There are four versions of the Property Browser tool:
You can also include any of these versions on a custom palette or custom menu.
Use these tools to show or hide the ToolBook Property Browser. The different versions just indicate what default object the browser will open to. These tools are similar to the ToolBook menu combination View -> Browsers -> Property/Ctrl + F4.
The Property Browser lets you add, remove, or edit properties at all levels of the hierarchy.