The “Edit in Place” (EIP) toolbar is the one that appears at the top when editing text.
This bar allows you to format text in a number of ways. There are some variations to this bar, depending on the text you are currently editing. The image above shows the toolbar for a normal block of text. You’ll see this when editing text in the Text app, for example. There you can also insert images or videos (with the last two buttons on the right).
When you edit app titles, the toolbar doesn’t get the add images, videos, or links. Also you can’t format text as list.
Blog App and Others
And there may be other shorter edit in place toolbars. Like for a blog post for example. If you click on the text of a post entry (in a Blog app), the toolbar will look like in the following image.