The Post Meta Element is a specific single post / product layout element, designed to add customized meta information anywhere in a Content Layout Section, in any Single Post, Page, Portfolio or WooCommerce product Layout. Of course, you can also use the full range of Design Elements when building your Layout, and combine them with the Layout Section Elements.
When you go to add an Element in a Content Layout Section, the Element dialog opens in a new tab called Layout Elements. This is where you will find the Post Meta Element.
The Post Meta Element can be placed anywhere in you Layout Section, and displays a selection of meta content, based on the options selected in the element, on pages based on the conditions set in the Layout. There are three tabs of options in the element, controlling functionality and design. See the options panels below for specific details on that.
But basically, you select which meta information to enable or disable, add your preferred Separator, and then choose your design options to customize how the meta information displays on the page. You can control Height, Font Size, and Text Colors. Where you place the Post Meta Element is up to you, but the convention is at the bottom of the Content itself.
See below, for an example of the Post Meta Element added to the Single Post Layout on the Avada Author Demo.