Extract all words in text string, put them into a single column

I'd like to take each word in a text string, put them in an individual column, and assign the original text string to an adjacent column.

For example, 1 column of data:
"The Excel Forum"
"Post New Thread"

Would become 2 columns:
The / The Excel Forum
Excel / The Excel Forum
Forum / The Excel Forum
Post / Post New Thread
New / Post New Thread
Thread / Post New Thread

Is this possible?