To use the Palette, there must be an open form on view in the editor (if there isn't one, select File -> New Form). Click on the icon in the appropriate tab of the Palette for the component you want to use, then click on the Form, near where you want the component to appear. When the desired component appears, you can select it by clicking with the mouse, then move it to the exact place on the Form where you want it and adjust its size. Adjustments can be made to the appearance either by altering the picture itself on the Form using the mouse, or by changing the relevant Property in the Object Editor for that component.