// step 1
Callout callout = new Callout();
// define the point on the map where callout will be displayed (pixels)
callout.setAnchor( map.toMapUnits( 300, 200));

// step 2
CosmeticLayer cLayer = map.getCosmeticLayer();

// step 3
Symbol symbol = new Symbol();

// step 4
int color = new Color(255, 0, 0).getRGB(); //red
TextFont font = new TextFont();

symbol.setSize(20);
symbol.setColor( Symbol.rmSymbolColor, color);
symbol.setSymbolStyle( "std:star");

font.setColor( color);
font.setBold( true);
font.setUnderline( true);
font.setItalic( true);
font.setSize( 20);

callout.setSymbol( symbol);
callout.setOrientation( Callout.rmTopCenter);
callout.setFont( font);
// to get a symbol without any text, omit this step
callout.setText( "Sample Callout");

// step 5	
cLayer.getCallouts().add(callout);