A block quotation is a quotation that is set off from the main text as a paragraph, or block of text, and typically is distinguished visually, using indentation and a different typeface. Infact the Chicago Manual of Style, recommends using a block quotation online, when extracted text is 100 words or more, or at least eight lines.
In HTML it looks like this:
<blockquote> The blockquote element defines a long quotation</blockquote>
and will look like this, when outputted, in the editor's WYSIWYG view.
Creating a Blockquote
To do this, start by selecting (1) a block of text in the editing area and then (2) select the 'Block Quote' button from the editor as seen below: