{assign 'tsplit' ' '|explode:'Hello world foo'}
{assign 'a' $tsplit|array_shift}
{assign 'b' $tsplit|array_shift}
{assign 'c' $tsplit|implode:' '}
{$a} - {$b} - {$c}
This could give an unexpected result when you have combined words such as hamster wheel
or similar
EDIT
I accidentally misread the question. Here is a decent update
{assign 'a' 'Hello world foo'}
{assign 'tsplit' ' '|explode:$a}
{assign 'b' $tsplit|array_shift}
{assign 'c' $tsplit|implode:' '}
{$a} - {$b} - {$c}