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In today's 365 Ninja Tip tutorial, the presenter demonstrates how to add or remove a watermark in Word 2013. Starting with a document featuring a watermark that says "Sample," the process involves navigating to the Design tab in the ribbon. In the Page Background section, the watermark option is found; the user can remove it via the drop-down menu. Several prefilled watermarks are available, including "Confidential," "Draft," and "Do Not Copy." Additionally, users can create a custom watermark by adding text or a picture and adjusting the font or color. Once customized, clicking "Apply" will implement the changes. The tutorial emphasizes flexibility in watermark creation to meet various needs.