Canvas Widget:

The canvas widget is a special item that allows you the flexibility to add more features to make your website beautiful. This item gives you the opportunity to create a uniquely designed image and text item for your website which leads to a much more professional look. 

The canvas widget can be found under the miscellaneous section of the drag and drop menu.

What does the canvas widget include:

It includes 3 items that you have the ability to edit; header, image, and color.

See the different menu bars below.

1. Header
2. Image
3. Color
The canvas widget as an advanced widget offers a variety of editing options which you can view in the above menus.
All these options turn your canvas widget into an advanced, smart, and simple image editor without the need for knowledge in Photoshop.