ArcGlobe does not support layer labeling. As a workaround, users can use ArcMap to convert labels to a new or existing annotation feature class. Annotation feature class can be displayed in ArcGlobe as flat billboarded text.
The Globe Text Tool for ArcGIS Desktop 9.2 is a developer sample available on ArcScripts to generate true 3D layer labels. The ArcScripts download includes full source code. Below is a screenshot and a short demonstration video from YouTube..
