try this:

Code:
Public Class Form1

    Dim firstUsed As Integer = 2
    Dim labels() As Label
    Dim strings() As String = {"My name", "is", "Paul"}

    Private Sub Form1_Load(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles MyBase.Load
        labels = New Label() {Label1, Label2, Label3}
    End Sub

    Private Sub Timer1_Tick(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles Timer1.Tick
        For x As Integer = 0 To firstUsed
            labels(x).Text = ""
        Next
        For x As Integer = firstUsed To labels.GetUpperBound(0)
            labels(x).Text = strings(x - firstUsed)
        Next
        firstUsed = If(firstUsed = 0, 2, firstUsed - 1)
    End Sub

    Private Sub Button1_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles Button1.Click
        Timer1.Enabled = True
    End Sub

End Class