I just saw this post on the tex SE site and wondered how I would do the same in ArcGIS. I created a text box in a layout and drilled down in all of the dialog boxes but couldn't see anything similar. Sure, it's easy to create a rounded box, but how do you invert the corners?
One solution I had was to manually draw a rectangle with circles on the corners.
Then, I used the subtract tool on the Graphics Operations context menu for each of the corners.
The result was satisfactory:
I could easily put some text in there and it would look fine. However, if the amount of text changes and I need to stretch the box, the corners stretch as well:
Does anyone know of a way to create such a frame around text in the layout in ArcGIS?
I'd be happy to know if it's possible to do this using Python.
Best Answer
Unless you want to try to implement an ArcObjects solution for this, as suggested by @blah238, your best bet appears to be to submit a new ArcGIS Idea for it.
I would target that enhancement request for ArcGIS Pro rather than ArcMap. However, there is not yet an ArcGIS Pro category available for you to do that.