OS X text system allows it.
1. Open a document in your favorite text editing app (TextEdit, Smultron, even M$ Word).
2. Put the cursor where you want the text square to begin.
3. Shift-Option-click somewhere else, et voilÃ ! Les jeux sont fait.
I think it should work in any editable text areas of any Cocoa app, although it is working even in some non-Cocoa apps like M$ Word.