Create a vector/plain text selecting the text tool on the tools panel. Type some text on the canvas. I used the word 'Animation' shown in the example below. While the text is still selected break it apart by using Ctrl + B to separate the word into individual letters as shown below:
In Frame-by-Frame animation you can create these separate objects for each frame in order to produce an animation sequence. Since the letters are now separate you can move them around and even make them different colors. Change the color of each of the letters.
Select all the letters and move them off the stage. Insert Keyframes along the Timeline and begin moving you letters across the stage they way you want them to appear. For example if you want them to move along like a snake insert a key frame in frame 3 and align the letters to move to your desired position.
Insert another Keyframe in frame 3 and then position your letters again.
Continue adding Keyframes and moving your letters across the stage.
Save your work and test the Movie (Ctrl + Enter).