The ToolTip class is used to create pop-up windows with a pointer that usually points to the mouse. It is usually used when a user hovers over an area (e.g. button or link) to provide additional information—a tip on what the item is or how it is used.
Included is the class and a .fla & .swf files (as show below) to play with the different property settings and see the result.
The documentation is here