An easy way is to create a delegate for the drag drop event. You can do this by subscribing a method that would update the label when an item is dragged and dropped. I would create a custom label type inherit from label or whatever your dragging and dropping so you can control the behavior. It would look something like the following. The below is untested and I did it notepad on my phone. So you may need to change it some to fit your purpose, but this will work.
<pre lang="c#">
public static class Program
{
public delegate void DragEventHandler(object src, EventArgs e)
public event System.Windows.Forms.DragEventHandler DragOver;
public static void Main()
{
OnDragOver += DoSomeWork;
}
public static protected void OnDragOver(object src, EventArgs e)
{
if (DragOver != null)
{
DragOver(src, e);
}
}
public void DoSomeWork(object o, EventArgs e)
{
label.Text = e.data.ToString;
}
}