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With the tool-tip you can also give text and labels a tool-tip. A tool-tip is a small text balloon that shows up when your mouse hovers over or clicks on a component. This button give you the ability to give labels or text a custom tooltip. When the tooltip property is added to a text item, it allows to set a few properties in the property pane as shown belaw.
Text style context changes the original text and or label.
Mode controls whether the tip is shown by clicking the text or by hovering your mouse over it.
Placement chooses where the tip will appear relative to the text.