To create a label component on the fly, create a new project with one form. On that form place a button and double-click on it to edit the click event handler. Write the following code:

 procedure TForm1.Button1Click(Sender: TObject);
   aLabel: TLabel;
   aLabel := TLabel.Create(self);
   aLabel.Parent := self;
   aLabel.Visible := True;
   aLabel.Caption := 'Created dynamically!';
   aLabel.Top := 10;
   aLabel.Left := 10;

Run the application and click on the button and you'll see the label created on the fly. You can even put instances of components in an array and manage them in a similar way to VBs Control Arrays.

See also:Edit