Text Editor Widget
The Text Editor widget is a TinyMCE WYSIWYG editor that behaves just like the WordPress visual editor. You can enter rich text, images and WordPress shortcodes (Even though it is more recommended to use the Shortcode widget for that).
This widget is great to add content to your page. If you need to add shorter text, you might prefer to use the Heading widget. Besides the features that normally appear on the TinyMCE editor, this widget you has more styling options that let you change settings like font weight, line height, letter spacing, alignment and more.
In Elementor, you can make the first letter of the text a Drop Cap, meaning it appears bigger and different than the rest of the text.
This is a very useful feature and is widely used in various written formats, both online and offline. You've probably seen it in used in blogs and magazines article as well as in books.