Same way you undo anything else, Edit > Undo, or are you asking if you can come back days later and remove the content, then put it elsewhere? Sounds like maybe the latter, and my guess is you pasted a text frame into another frame, so you need to select the outer frame, then Object > Select > Content, or just use the Direct Select tool to select the content, then cut and finally paste it someplace else.
Thanks for the prompt reply Peter. Yes I meant the latter.
Another way if you have multiple items on the one page and you haven't rotated them, you could try Object > Fitting > Fit Frame to Content. This keeps the image in it's original frame but re-sizes the frame so there is no cropping. It will allow you to select more than one at a time too.