How do they compare to photoshop/what kind of graphics can you make with them? I'm not looking for anything super fancy, I don't have time to dedicate to art, I firstly just want something that makes cutting the images easy, and any other cool features will be a bonus. I'm more looking to make some pictures for myself then to sell at this point.  

I used Pixlr for a while. You can do okay graphics but not great. Honestly I would highly suggest GIMP as it's free and you'll have more abilities there. I found I was extreemely limited and ended up only able to use pre-cut images which got really annoying really quick. It also doesn't have any decent options for touching up hair. Overall it'll make you work way too hard for it all.

I have used both for a very long time and I will say for beginners starting out, they are okay choices if you're doing minor graphics, but be aware you cannot expect a great deal out of them. I agree with Siib that GIMP would be the best choice for Photoshop aspect or maybe even Photobie  {a simplfied GIMP} for what you're looking for. If you do wish to try these however, you can take it with a grain of salt and read the pro and cons I have on the two from my experience. If anything of these look capable to your work, then I would take it.

SumoPaint:

Pros:

I. Is free

II. Good for painting manes and tails

III. Can add minor effects {i.e white outline, Gaussian blur to background and certain lighting effects}

Cons:

I. There is no tutorial

II. You cannot upload brushes from Deviantart to the program {in any form}

III. Cutting out is difficult unless you have assistance {i.e Bamboo tablet or a super steadywireless mouse}

IV. Cloning and blurring causes severe smudging streaks which if done too badly can't be reversed fully

Pixlr:

Pros:

I. Is most similar to Photoshop {compared ONLY to Sumopaint, GIMP and other later programs are much closer to PS in general}

II. Does good lighting effects and other cool effects

III.  Great for smoothing and fixing backgrounds

IV. Is free and easy to figure out

Cons:

I. There is no tutorial

II. Cutting is slightly easier than Sumopaint, but still requires what was recommended for excellent cuts.

III. Cannot download outside brushes except Pixlr brushes

IV. Cannot do mane or tail painting and outside lines are sloppier and harder than in Sumopaint

Hopefully this helps!!