UILabel

http://chris-software.com/index.php/2009/05/08/creating-programmatically-a-label-uilabel/

UILabel *myLabel = [[UILabel alloc] initWithFrame:CGRectMake(50, 100, 200, 100)];
myLabel.text = @"Lorem...";
self.view addSubview:myLabel];
myLabel.backgroundColor = [UIColor clearColor]; // [UIColor brownColor]
myLabel.font = [UIFont fontWithName:@"Zapfino" size: 14.0];

Setting the font:

myLabel.shadowColor = [UIColor grayColor];
myLabel.shadowOffset = CGSizeMake(1,1);
myLabel.textColor = [UIColor blueColor];

myLabel.textAlignment = UITextAlignmentRight;

myLabel.lineBreakMode = UILineBreakModeWordWrap;
myLabel.numberOfLines = 2; // 2 lines ; 0 - dynamical number of lines
myLabel.text = @"Lorem ipsum dolor sit\namet...";