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To modify the text of a button, the appropriate action is to right-click the button and choose Edit Text. This method allows direct access to the button's properties, enabling you to easily change the text displayed on the button. By right-clicking, you typically bring up a context menu that provides editing options specific to that control, which is standard practice in many software applications that feature customizable buttons.

The other methods mentioned do not provide a straightforward way to change the text on a button. For example, selecting options from a menu or attempting to drag the button does not usually lead to text modification capabilities. Therefore, choosing the Edit Text option through a right-click is the most efficient and commonly used method to achieve the intended modification.