To Put Picture's in a RichTextBox, you can just copy the picture, and Paste it in. (To get the Edit menu to appear when you Right-Click, set the AutoVerbMenu property to True.

Use the SelBold, SelItalic, SelUnderline and SelStrikeThru properties to change the Selected text to any of the 4 styles.
Code:
RichTextBox1.SelBold = Not RichTextBox1.SelBold
RichTextBox1.SelItalic = Not RichTextBox1.SelItalic
RichTextBox1.SelUnderline = Not RichTextBox1.SelUnderline
RichTextBox1.SelStrikeThru = Not RichTextBox1.SelStrikeThru
Use SelColor to change to a different Colour.
Code:
'Changes to Blue colour
RichTextBox1.SelColor = vbBlue