| position | Position in 3D space as seen from the current handle camera. | 
| text | Text to display on the label. | 
| image | Texture to display on the label. | 
| content | Text, image and tooltip for this label. | 
| style | The style to use. If left out, the label style from the current GUISkin is used.Note: Use HandleUtility.GetHandleSize where you might want to have constant screen-sized handles.  | 
Make a text label positioned in 3D space.
Labels have no user interaction, do not catch mouse clicks and are always rendered in normal style.
Label in the Scene View.
    // Create a 180 degrees wire arc with a ScaleValueHandle attached to the disc
    // that lets you modify the "shieldArea" var in the WireArcExample.js, also
    // lets you visualize some info of the transform
    @CustomEditor (DummyLabelScript)
    class LabelHandle extends Editor {
        function OnSceneGUI () {
            Handles.color = Color.blue;
            Handles.Label(target.transform.position + Vector3.up*2,
                    target.transform.position.ToString() + "\nShieldArea: " +
                    target.shieldArea.ToString());
            Handles.BeginGUI(Rect(Screen.width - 100, Screen.height - 80, 90,50));
            Handles.DrawWireArc(target.transform.position,
                    target.transform.up,
                    -target.transform.right,
                    180,
                    target.shieldArea);
            target.shieldArea =
            Handles.ScaleValueHandle(target.shieldArea,
                            target.transform.position + target.transform.forward*target.shieldArea,
                            target.transform.rotation,
                            1,
                            Handles.ConeCap,
                            1);
        }
    }
And the script attached to this Handle:
// DummyLavelScript.js
var shieldArea : float = 5;
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