'Добавте LABEL
Option Explicit
Private Declare Function LoadCursor Lib "user32" Alias "LoadCursorA" (ByVal hInstance As Long, ByVal lpCursorName As Long) As Long
Private Declare Function SetCursor Lib "user32" (ByVal hCursor As Long) As Long
Private Const IDC_HAND = 32649&
Private Const IDC_ARROW = 32512&
Private Const IDC_IBEAM = 32513&
Sub SetHandCur(isHand As Boolean)
If isHand Then
SetCursor LoadCursor(0, IDC_HAND)
Else
SetCursor LoadCursor(0, IDC_ARROW)
End If
End Sub

Private Sub Form_MouseMove(Button As Integer, Shift As Integer, X As Single, Y As Single)
Label1.ForeColor = vbBlack
Label1.Font.Underline = False
End Sub

Private Sub Label1_MouseDown(Button As Integer, Shift As Integer, X As Single, Y As Single)
SetHandCur True
End Sub

'Применение:
Private Sub Label1_MouseMove(Button As Integer, Shift As Integer, X As Single, Y As Single)
Label1.ForeColor = vbBlue
Label1.Font.Underline = True
SetHandCur True
End Sub