Use the ExpressMonogram Wizard 
to create a monogram of up to three letters. Select a font style, thread color, shape and size. Surround the monogram with a border. Alternatively, create a monogram with no border, then in the Frame tab add a Frame or Flourish, or a motif underline.
On the work area, use Save or Save As to save the monogram in a .vp4 file for later use.
Unless the monogram has been fixed as Embroidery Stitches, right-click at any time and choose Properties from the Context menu to return to the ExpressMonogram Wizard for adjustments.
If you resize the monogram it will be fixed as a group of embroideries.