You can create a new label rule that can be used to place a custom label.
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Browse to the [Product Folder]\SharedContent\Catalog\Rules\LabelRules folder, and perform a copy and paste operation on an existing xml file. For example, copy and paste the SectionSize_None_APO_NL.xml file within the same folder.
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Rename the copied xml file to the name of the label you created in previous steps.
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Open the file using a third-party xml document editor.
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Change any occurrences of SectionSize_None_APO_NL to your label name. For example, change SectionSize_None_APO_NL to MyNewLabel. There should only be one file name to change in this .xml file.
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Save the file and exit.
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To use your new label in a drawing, you need to specify the new rule within a particular view style. See Create a New View Style.