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How to rename the dropdown button?

I’m feeling so thick but I went through this tutorial
and it skipped the step on how to rename the “drop down” button to something else. I remember seeing a video on this once and it seemed clear but I don’t see the option anywhere! I’m sure I am missing something simple :frowning:

Here is a picture of what is happening. It does seem to let me edit the text but I have to do it blindly because this formatting box hovers over it. I guess it’s workable but the interface is in the way.