The Layer Objects sub menu of the Layers menu appears when you right-click on a Layers Tab, or when you choose it from Layers command, under the Image menu.
The Layers Objects menu
Most of the Layer Objects commands relate to Floating Objects. A floating object is called floating because it is laid over a layer in a floating state that allows you to keep moving it, or re-opening it for editing, as long as you like, even after you have added other objects to the layer.
Only text and objects created with the Drawing Tools (rectangles, polygons, lines, etc) can be floating objects.
When you are satisfied with your floating object, you can Apply it to your image in order to lock it down and make it a permanent part of the image, or leave it floating even when you save and close so that you can always change it at a future time.
Floating Text (Re-editable)