The OLE Object bar appears when objects are selected, and contains the most important functions for formatting and positioning objects.
Places the object on a separate line in the document. The Text in the document appears above and below the object, but not on the sides of the object. You can also choose this setting on the Wrap tab page.
Wraps text on all four sides of the border frame of the object. This icon corresponds to the Page Wrap option on the Wrap tab page.
Places the object in front of the text. You can also achieve the same effect through the Wrap tab page.