In Toad 9.7 and older, a user could type "hr.employees" in Toad Editor, open the Describe Window with F4, ctrl+left-click and select columns in the Columns tab, right mouse click and "generate select statement." Then they could paste the select statement into the editor and it would have just contain the columns they selected. Similar steps were available for Generate insert, and Generate update. The same steps also work in the Schema Browser's right hand side.
An enhancement request has been submitted to the development team for consideration in a future release of Toad for Oracle.