How to open the Chrome Developer Tools in a new window?

You have to click and hold until the other icon shows up, then slide the mouse down to the icon.

As of Chrome 52, the UI has changed. When the Developer Tools dialog is open, you select the vertical ellipsis and can then choose the docking position:

Select the icon on the left to open the Chrome Developer Tools in a new window:

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Previously

Click and hold the button next to the close button of the Developer Tool in order to reveal the "Undock into separate window" option.

Note: A "press" is not enough in that state.

1. click on three dots in the top right ->
2. click on "Undock into separate window" icon