There are a variety of options to choose from when formatting shapes in PowerPoint.

There are ways you can apply formatting and effects using the ribbon and the default options PowerPoint provides.

Once you create a shape in PowerPoint, a new tab will appear in the ribbon called shape format.

Here you can select how you want to edit the shape, including shape styles, which are built in options based on the theme of your PowerPoint template.

There are shape effects which allow you to create a layered shape with shadows, for instance, or even make them 3D.

And then there are the more standard formatting options, shape fill, which provides hues of the colours built into the template and some other options for gradients and textures.

Shape outline where you can customize the weight and colour, but also if you want sketched or dashed lines.

And finally, in the far right of the ribbon, the size.

This is one way to format and edit shapes, but you have to stick to the default options provided.