A family of Microsoft presentation graphics products that offer tools for creating presentations and adding graphic effects like multimedia objects and special effects with text.
Office 97 had a weird habit of letting you paste images into selected text placeholders, as I recall. That might be what you're remembering. As near as anyone can tell, it was a bug and was corrected in later versions.
Sometimes bugs are useful to some of us, eh?
I have a free add-in, PPTools StarterSet, that includes a tool that lets you memorize the size and position of any selected shape, then match that size and position on any other shape or shapes with a single click.