One of the more impressive additions to WinFormattedLinkLabel™ is the STYLE attribute. Using this attribute, you can set styles ranging from padding to foreground color to border styles. The STYLE attribute can be used on the pre-existing <p> tag, as well as the new <img>, <hr>, and <span> tags.
The <span> tag was created specifically to display inline styles. By itself, the <span> tag does nothing. However, add the style attribute to the <span> tag, and you can do so much more. You can change the background color, use a background gradient, change border color and styles, edit font styles just like the <font> tag, modify the height and width of the section, apply extra padding and margins, etc. For a complete list of available styles that can be used in the <span> tag, see Using the Style Attribute.