The properties of an object describe how that object looks and behaves. For example, a Part has properties such as Position, Material, and Size which determine where the part is located within the place and how it appears.
After clicking a part, the Properties window will show all of the properties for that part. Any changes you can make with a Studio tool can also be made by manipulating the values inside the Properties window. You will even see properties within this window that don't relate to a Studio tool.
To open the Properties window, click on the View tab and then click the Properties button.