The object is "vertical-align:middle":

This is some text. This is some text.

The object is "vertical-align:top":

This is some text. This is some text.

The object is "vertical-align:bottom":

This is some text. This is some text.

The object floats to the right:

This is some text. This is some text.

The object floats to the left:

This is some text. This is some text.