Moving "world co-ordinate" screen space canvas?

Hi all,

I am developing a bit of a model viewer with interactive elements. I am attempting to make “pointers” that have UI Text at the end of them which always face the camera. So far unsuccessful to get anything to work.
Currently I have just created stretched cubes to simulate the pointers, but if there is another method I would love to hear it. Are there any examples of this floating around that someone has made? Maybe in a game?

http://www.gameboardmaker.com/WEBBUILD.html

Following that, the reason there is a transparent plane though the object is because the next step would be to fade the alpha of UI elements depending on the distance away from the camera. So that only the forefront items are displayed (preventing an information overload to the viewer)

Any ideal method to approach either solution?
Thankyou.

How about using the LineRenderer for the pointers?

It’s used for the bullet trails in the survival shooter tutorial

As for the UI elements alpha a raycast from the object to the camera would get you the distance.