How do I detect a click outside an element?

I have some HTML menus, which I show completely when a user clicks on the head of these menus. I would like to hide these elements when the user clicks outside the menus' area.

Is something like this possible with jQuery?

$("#menuscontainer").clickOutsideThisElement(function() {
    // Hide the menus
});

As a wrapper to this great answer from Art, and to use the syntax originally requested by OP, here's a jQuery extension that can record wether a click occured outside of a set element.

<!-- language: lang-js -->

$.fn.clickOutsideThisElement = function (callback) {
    return this.each(function () {
        var self = this;
        $(document).click(function (e) {
            if (!$(e.target).closest(self).length) {
                callback.call(self, e)
            }
        })
    });
};

Then you can call like this:

<!-- language: lang-js -->

$("#menuscontainer").clickOutsideThisElement(function() {
    // handle menu toggle
});

Here's a demo in fiddle