Style block is one of the best block for formatting text as you want whether it is a single word or whole paragraph. You can format it according to your choice of interest even if you want to save your unique style that you have created, have option to that as well.
You can see below different types of headings and styles.
Create a Style – Create a Style based on formatting of the selected text, this actually helpful it stores your type of style you have created and you can use it later if you want it in your text.
Clear Formatting – It removes all the formatting from text.
Apply Style (CTRL + Shift + S) – It shows you a dialogue box with all the styles options, so that you can quickly select the options from drop down menu without navigating to the styles block.