In ArcView, Can I add an image to a label. Assume I have the photograph path as an attribute.
You can use a bitmap image inside the label symbol itself but i've had nothing but trouble with this approach when it come to exporting the map to a file or outputting it to plotter/printer. The "image labels" do not render well. Some do not appear at all some do others come out rendered only partially. There is no out-of-the-box solution I know of that will allow you to dynamically display images inside of a label symbol using a path stored in the attribute.
in the label symbol dialog you can set the text background to a symbol marker
then marker text background
Another way is to use the ballon callout
Another choice would be to use a point feature class and put the layer in the mxd twice. Once for the symbol, and a second for the label. Use a picture marker symbol
as the symbol and use offset xy to move it away from the original point marker.