Something as silly as this very quick sample may work for you...
Code:
Option Explicit
Private StillDragging As Boolean
Private Sub Form_MouseDown(Button As Integer, Shift As Integer, X As Single, Y As Single)
StillDragging = True
End Sub
Private Sub Form_MouseMove(Button As Integer, Shift As Integer, X As Single, Y As Single)
If Not StillDragging Then Exit Sub
If X < Shape1.Left Then Exit Sub
If Y < Shape1.Top Then Exit Sub
Shape1.Move Shape1.Left, Shape1.Top, X - Shape1.Left, Y - Shape1.Top
End Sub
Private Sub Form_MouseUp(Button As Integer, Shift As Integer, X As Single, Y As Single)
StillDragging = False
End Sub
You may need to restrict refion for mouse to allow/disallow resizing (just like toolbar or form have).