Text

The basic label: any words you type, drawn with your choice of font, size and alignment. On a watch face it's fixed text, such as a face name, a label under a gauge, or a decorative word. For the time or date, use Digital Clock or Date Text instead; they update by themselves.

Settings

Row	What it does
words	The text itself.
colour	Text colour and opacity.
weight	How bold the font is.
font	The typeface. Empty uses the watch's default font.
font size	The size to draw at. 0 means automatic (half the box's height).
auto-size	Fit the text to its box instead of a fixed size. min and max set how small and how big it may get.
h. align / v. align	Where the words sit in the box, left to right and top to bottom.
h. overflow	Overflow keeps one line that can run past the box's width. Wrap breaks onto more lines to stay inside it.
v. overflow	Only matters when wrapping made several lines. Overflow lets extra lines spill past the box's height; Truncate cuts them off with "…".
outline	A real outline around every letter, with its own colour and width.

Every object also has the shared rows (position and size, ambient look, show when, Color Style and more), explained once in Settings Every Object Shares.