With my the playhead over the clip I wanted to put the title over, I went to Clip .> New title. 

In the New Title window, with the text tool selected I typed 'Silent Woods.'

Text enabled

Initial title stage

Enables you to view background clip

Background enabled : video behind title

Next I used the Selection Tool to allow me to move the text around the screen, placing it in the top right hand corner. 

Selection Tool enabled

To change the colour of the text from white, I selected the Fill. 

Fill : shows the colour is currently white

Allows you to select a colour

I wanted a colour to fit with the colour of the blurred lights seen in the background video. I selected this tool that allows you to grab the colour off of an object in the video, and used it to click on one of the lights giving me the same colour. 

Final title - colour matches one of the lights on left side

To save the title, I exited out of the window and selected save. The Save Title menu popped up, allowing me to rename it and chose a bin to save it in. 

At this point I didn't have a bin to store the titles, so I saved it initially in the 'Silent Woods Sequences' bin and immediately created a new bin called 'Titles and Credits' which I moved it too. 

I created a new video track, V3, using Cmd-Y, and placed the title on to it, above the title video. 

Timeline with title