how do I add text to a picture using iphone 16 ver. 18.3

I don't use Markup much, so I'm a bit of a novice. But I just tried it on my phone: Did Edit>Markup>+ and I chose Add Text, clicked on "Text" and used the delete key to erase "Text," typed "Balloon" in default black, selected the text, and chose Format>More (•••)  from the pop up menu. I switched to red, and then it seemed to work for me:

I admit that I tried changing the color in the original drawing window, and it didn't work. But then I found Format>More (•••) in the Pop up. 

What happens for you?

Start here:

Edit photos and videos on iPhone – Apple Support (AU)

Navigation “arrows” are at the bottom of the screen.