Jump to the below sections to learn more:
Steps to Create and Use Labels
Step 1: In the left navigation menu, under Global Settings, click on "Labels." Click on "Add Label," enter the name of the Label, and submit.
Step 2: Now, select a set of Targets, Products, Ad groups, or Campaigns that you want to group under this Label. Select "Label" on the top-right, choose the Label in which you want to group these, and click on "Add."
Alternatively, you can also create a new Label here. Type the name and click on "Add New."
Step 3: Your newly created Label will be available as a filter as well as a column.
Step 4: Select the label and apply
Step 5: Your labels will appear in the Labels column
You can also create labels for your accounts under the All Accounts tab to manage your organisation-level accounts effectively.
Labels are associated with individual entities - Accounts, Keywords, Product Targets, Products, and Campaigns, meaning you will only see labels associated with campaigns in the campaigns dashboard and not those linked with related Keywords, Targets, and Products.
Watch this video for detailed steps: