Callout
This is text in the Callout Content type. Formatting, links and media (images, and document links) can be added using the toolbar. Use this for short pieces of content that require emphasis, within the context of a longer page. For example, it can be used in between two One-Web General Content items.
Callout vs blockquote
You can achieve the same effect as a callout within any content type that contains the HTML editor using the 'blockquote' formatter.
To do so, highlight the sentence or paragraph within the editor you wish you format as a blockquote and select the formatter from the 'Format' menu: Format > Formats > Blocks > Blockquote
See the Formatting text - Quotes page for more information.