Returns a Characters object that represents a range of characters within the object text. You can use the Characters object to format characters within a text string.
expression.Characters(Start, Length)
expression Required. An expression that returns an object in the Applies To list.
Start Optional Variant. The first character to be returned. If this argument is either 1 or omitted, this property returns a range of characters starting with the first character.
Length Optional Variant. The number of characters to be returned. If this argument is omitted, this property returns the remainder of the string (everything after the Start character).
Remarks
The Characters object isn't a collection.
For the TextFrame object, Characters is a method.
Example
This example formats the third character in cell A1 on Sheet1 as bold.
With Worksheets("Sheet1").Range("A1")
.Value = "abcdefg"
.Characters(3, 1).Font.Bold = True
End With