refreshing and labeling
In ArcCatalog, if you've just created a new layer in ArcMap, it may not appear until you refresh the list. To refresh the list, use F5.
Labels
You can label features (ugh, an arc word...) with their attributes (ugh, another arc word). There is a toolbar for it.
You might need to be in an open Edit Session for this to work.
View -> Toolbars -> Labeling
The first icon is the Label Manager.