Canvas V2 Is similar to the pen tool. However, anything made with it has a kind of layer system allowing you to use it for UI elements for example showing the name of lots of clones. (I used this in devil corp. If you saw that from Scratch Game Jam 2, look at the provided image for more info.)
I will post the steps separately so I can include images for all those "visual learners" (me) (it's easy to copy an image).
Step 1: First, we need to display some text. This will forever reset all text. Then, it will create a msg based on mouse x pos. If the msg changes in game, you know it’s working. (make sure you change the color. It defaults to white.)
Step 2: The text is in game in center position. However, the actual msg has a bit of offset. You can fix this by offsetting itself right based on half the length of whatever you have it displaying.
Step 3: (optional) You can style how the text looks by adding font or outline like this.
This extension really helps me in a lot of cases. So it might help you lot.