Form hi = new Form("Hi World", BoxLayout.y());

// just filling some space so the layer below will be visible
SpanLabel base = new SpanLabel("Hi World,nLorem IpsumnLorem IpsumnLorem IpsumnLorem IpsumnLorem IpsumnLorem IpsumnLorem IpsumnLorem IpsumnLorem IpsumnLorem Ipsumn");

// this is the green label
Label green = new Label("Green Stuff") {
    private int actualHeight = 10;

    // we ask for more space so when we rotate the label it won't be clipped out
    @Override
    protected Dimension calcPreferredSize() {
        Dimension d = super.calcPreferredSize();

        // since we asked for more space the background will become a sqare
        // we don't want that so we save the "real" height here
        actualHeight = d.getHeight();
        d.setHeight(d.getWidth());
        return d;
    }

    @Override
    public void paint(Graphics g) {
        // I move the drawing context up and to the left otherwise
        // the banner will be cropped on the corner and look odd
        g.translate(-(actualHeight / 2), -(actualHeight / 2)); (1)

        // we rotate by 45 degrees in radians around the pivot point
        // which is the center of the component
        g.rotateRadians((float)(-Math.PI / 4.0),
                getX() + getWidth() / 2,
                getY() + getHeight() / 2);

        // we save the old color and set a background color then
        // draw the background manually
        int c = g.getColor();
        g.setColor(0xff00);

        // we take extra space so the banner will stretch further
        // I use fill here but I can use draw image if I have an
        // image from the designer that looks better
        g.fillRect(getX() - 50,
                getY() + getHeight() / 2 - actualHeight / 2,
                getWidth() + 100, actualHeight);

        // we let the label draw its content
        super.paint(g);

        // restoring the graphics context to the original value
        g.setColor(c);
        g.resetAffine();
    }
};

// we're drawing the background manually so we must make it transparent
Style s = green.getUnselectedStyle();
s.setBgTransparency(0);

// I want extra side padding because the rotation will cause the sides
// to crop so the text needs to be in the center
s.setPaddingUnit(Style.UNIT_TYPE_DIPS); (2)
s.setPadding(1, 1, 3, 3);

// we're layering the component on top of one another. The green
// label is positioned in the top left coordinate.
Container cnt = LayeredLayout.encloseIn(base,
        FlowLayout.encloseIn(green));
hi.add(cnt);

hi.show();