When you create or edit a content type, the Content Type Builder page displays an Apply Label link at the top-right corner. When clicked on it, it displays the existing labels, if any.
To create a new label, perform the following steps:
Open the Content Type Builder page of a content type.
Click on the Apply Label dropdown located on the top-right corner of the page and click on Create Label.
A new dialog box appears to enter the following details:
Name (mandatory): Provide a suitable name for the label.
Nest label under (optional): Using this you can nest a label under another existing label. Leave it blank if you are creating a label for the first time.
To save this label, select any of the following options:
Create: Allows you to create and save the label for future use.
Create and Apply: Allows you to create and immediately apply the label on the content type.
Tutorial Video
API Reference
Here are the links to the API requests related to this action: