Every object on the Stage has a corresponding layer in the Timeline. That is where you can apply animations to your objects. The animation options of an object depend on the type of object selected. E.g. you can apply ‘Hand Writing’ to a text object but not to an image, you can apply a Fly-In effect to an image but not to a sound, etc.
Clicking this button opens a menu with animation options. The menu contains animations in 5 categories:
To remove an animation, click the little Trash icon in the Timeline column on the left side: