Equip is an action inherent to the various tooltips you will use when manipulating and creating in Neos VR.
To equip a tool first grab it. While holding it open your context menu and select the fist icon with the word "Equip". Alternatively you may grab the tool with your laser and draw it in all the way by holding back on that hand's joystick. When the tool reaches the hand it will equip.
The tool will now remain mounted to your hand, even if you release grab. To dequip the tooltip simply open the context menu again and select the hand hand releasing an object icon labled "Dequip".
While a tool is equipped your context menu will change to new actions inherent to the tool. See tutorials and documentation on the individual tools to see what actions the tools have. Also your primary and secondary action buttons may gain new functions based on the tool that you have equipped.
Located on both wrists of most avatars is a shiny rectangular plate known as the tool shelf. Tools may be placed on the tool shelf for quick access. This can be particularly handy when a task requires you to juggle multiple tools.
There are two ways of place a tool on a tool shelf. First, you may grab a tool that is not equipped and simply move it until it is positioned against a tool shelf and release. it will stick to the tool shelf. Secondly, you may simply point your targeting laser at the shelf directly while a tool is equipped. When you do that, the laser will change to a bluish hue. Click primary action button while this is happening and your tool will instantly transfer to the tool shelf. The second option is faster since you do not have to dequip the tool.
You may access a tool from a tool shelf by either grabbing it and equipping it, or you may point your laser at it until the beam turns green and click primary action. The later option will equip it automatically and is the faster option.
If you have a tool equipped and you point at another tool on your tool shelf you will swap tools instantly.
Be aware that tools on your tool shelf can be swiped by anyone who has permissions to grab items in the current scene.