This is almost too easy. It's called billboarding. Create a small plain/plane, assign a texture that has the name of the character, position it over the character, and then use the point object command to point the billboard at the camera. This way the plain is always visible and automatically stays in scale with the character as you move the camera in and out.
As you character moves, just up date the position of the billboard and issue another point object command to keep it aligned with the camera.
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TAZ
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