The Alert will display only on the homepage. The alert will continue to display on the homepage unless the users clicks the "X" to close it. If the users closes the alert, it will no longer display the next time they visit the homepage.

To edit the alert, go to Content > Link Lists > Home Alert

Each link you add will display a different line in the alert. The Name will display at the beginning in all caps, then the Description will display after that. The Link field will make the entire line of the alert a link.

To turn off the alert, simply remove all the links from the link list using the trash can icon next to the link you want to remove, as in the image below. Do not delete the entire "Home Alert" link list.