Hello,
You can create custom graphic labels using the Custom Label Builder.
Please go to:
Dashboard > Theme Settings > Shop > Product Labels
Enable Custom Labels, then go to:
Products > Custom Labels > Add New Label
Create your graphic label, configure its style, and publish it. After that, use the Conditions option to assign the label to specific products, categories, tags, stock status, etc.
Once the condition matches, the label will automatically appear on those products.
You can find the complete guide here:
https://xtemos.com/docs-topic/custom-label-builder/
Best Regards