The RadLabel control is a themable replacement for the standard label control, available in the Visual Studio toolbox. It allows you to include a label in your applications that is consistent in look and feel with the rest of the RadControls in your application.
Telerik Windows Forms Panel supports HTML-like text formatting.
HTML-like Text Support
Since all Telerik Windows Forms labels and panels are descendants of Telerik Presentation Framework's VisualElement, they are capable of displaying rich text formatting by using standard HTML tags, such as <i>, <b>, and <u>.