Display Text using flags on user profile?
I achieved 'Out of office' flag functionality using rules module.


Placed an out-of-office flag on user profile and set visibility rules (panels)   to show flag only if its user's own profile 
Within flags used flagging form to capture user out-of-office message
Added an extra field 'out-of-office' within user's profile.
Created a rule on flagging-event to populate 'Out-office-field' with text from flagging form.
Created a rule to delete the text from 'out-of-office' field on unflagging.