When creating a page in 10 Minute Funnels, you will need to place objects inside containers and columns, and place those containers and columns inside other containers and columns. The hierarchy of page elements feature allows you to see the order of which object is at the inner most and what other containers and / or columns are housing that object.

On the example below, the Email Form Field is inside a container. The container is inside a column with 2 cells, and the columns are inside a bigger container. 

The hierarchy of page elements may be used to select the objects in the hierarchy aside from selecting it directly on the page. This is especially useful when you're trying to select an object that is directly behind one object. 

In the example below, the picture is inside a container. Since the container label is behind the picture object, you may have a hard time selecting it. Simply click on the container label in the hierarchy to select the container.
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The hierarchy of page elements may be used to rename page objects in the hierarchy aside from renaming them from the All Objects Menu. Simply double-click on the object label in the hierarchy and enter the new object name.