Steps
1. Sign in as a user with at least the Application Administrator capability global role assignment.
2. Go to MANAGE > Conditional Labels in the banner.
3. The list of conditional labels is presented.
4. Click Add.
Example
Sign in as Administrator and go to MANAGE > Conditional Labels.
Click +Add. And enter the name as below:
Click SELECT ICON and select an icon from the picker.
Now you may edit the label below.