When you draw a set of objects (including text boxes) you can make them
appear to be just 1 by selecting them all - either by selecting the draw
arrow (next to 'Draw' on Drawing toolbar) and dragging out a rectangle to
enclose the items you want to group or, holding the shift key down, clicking
on each one individually then clicking on Draw/Group in the Drawing toolbar.
Sorry - what a dreadful sentence. If it doesn't make sense, take a look at
www.drawingwithword.com and find your way to Exercise 2 - Overlaying text
So, if your text and graphic is a grouped set then, conversely, click on it
to select it, pull up the 'Draw' menu selection (Draw tooolbar) and if
'ungroup' is highlighted then click on it to ungroup your grouped set.
I hope that helps a bit more