I went searching for a hotkey for the snipping tool bundled with Windows 7. I use this tool all the time but would like to be able to just activate it. Turns out there is no default hotkey but you can easily set on on the program by searching for “Snipping Tool” from the start menu. Right-click and choose properties. Click the Shortcut tab and click inside the Shortcut key box. Next just issue the command you would like as the shortcut and click ok.
See here for more details and screenshots: