WordArt is not for the faint of heart. Where text effects operate on subtlety, WordArt, by contrast, is big, bold, and flashy. It treats text more as if it were a graphic.
The picture gives you some examples.
You create WordArt by typing the text you want to style in a WordArt editing dialog box (opened from the Insert tab). Once WordArt is applied, you treat the affected text somewhat like a picture. You click to select it, and WordArt Tools are available, with several formatting options.
For example, you can edit the text, change fill color or word outline, apply a different warping style, and add shadows. For most of the choices, you get previews on the WordArt before you apply a selection.
You'll see more in the practice session, which follows.