It could be a text box, or an image. I click on it and attempt to drag it to a new location, but I can't determine exactly where I'm placing it because Windows does not show me an outline of the image after I begin dragging it. So, I have to keep moving it in order to get it in the right spot. How do I enable the borders to be visible so that I can see exactly where I'm moving the image or text box to?
Solution: It looks like the reason why I couldn't see the placeholder borders was because I had set the "line color" of the text box to "no line." Visualizing the placeholder of the text box when dragging it requires a line to be present. I always thought the placeholder was like a "virtual line" that was always visible when dragged as long you have "show window contents while dragging" checked.