With this command you can create floating texts.
/summon armor_stand X Y Z {CustomName:"<TEXT HERE>",CustomNameVisible:1,
Marker:1,Invisible:1,NoGravity:1}
It's not super duper! It's just great.
Useful to design.
If you want to delete it just stand close to it and enter this in the chat:
/kill @e[type=armor_stand,c=1]
If you want to change it enter this command:
/entitydata @e[type=armor_stand,c=1] {CustomName:"<CHANGED TEXT HERE>"}
:D