Is this for inside the CMS or for the Front end? Drag and drop and all the js effects like this would be quite challenging in the CMS (but we have it with the widgets) as it uses a old version of prototype so you might just need to play around with that if you have used prototype before doing drag and drop and auto selection / complete should be straight forward.
There's nothing out of the box that handles drag and drop but if you look at how the WidgetArea works that should be a start.
If you need it on the front end eg then its a bit easier as you have flexiblity over whatever JS framework you want to write / integrate drag and drop with. By default you have access to prototype but most of us prefer jQuery so have been using that more and more for front end effects, AJAX but you could try out MooTools etc.