A very simple customizable bag tag.  

• Once you open it, navigate to the objects menu and select the text shape. 
• Top right corner is the text shape button, click on it.
• Click in the input text and change it to whatever name you need it to be.
• Adjust the text gap to center the letter in the middle of the indent.
• after you center the text, navigate to the scale tool at the top center and size it down in the Y to make sure it centers top and bottom.

If you are feeling froggy and want the text a different color 

• click on the text shape in the objects menu
• navigate to the paint tool at the top right corner and click on it.
• click on fill, click on the color option you want to have the lettering
• start filling all edges in with the desired color

If you only paint the top surface of the letters, the following applies to you.

• Ironing is turned on for this but you may need to adjust settings depending on how bad your color bleeds through