diff --git a/packages/block-editor/src/components/block-switcher/index.js b/packages/block-editor/src/components/block-switcher/index.js
index dc3048bdda80b5..ef0d601c495c86 100644
--- a/packages/block-editor/src/components/block-switcher/index.js
+++ b/packages/block-editor/src/components/block-switcher/index.js
@@ -1,7 +1,7 @@
 /**
  * External dependencies
  */
-import { castArray, uniq, truncate } from 'lodash';
+import { castArray, uniq } from 'lodash';
 
 /**
  * WordPress dependencies
@@ -17,6 +17,7 @@ import {
 	switchToBlockType,
 	store as blocksStore,
 	isReusableBlock,
+	isTemplatePart,
 } from '@wordpress/blocks';
 import { useSelect, useDispatch } from '@wordpress/data';
 import { stack } from '@wordpress/icons';
@@ -27,6 +28,7 @@ import { stack } from '@wordpress/icons';
 import { store as blockEditorStore } from '../../store';
 import useBlockDisplayInformation from '../use-block-display-information';
 import BlockIcon from '../block-icon';
+import BlockTitle from '../block-title';
 import BlockTransformationsMenu from './block-transformations-menu';
 import BlockStylesMenu from './block-styles-menu';
 
@@ -40,11 +42,9 @@ export const BlockSwitcherDropdownMenu = ( { clientIds, blocks } ) => {
 		blockTitle,
 	} = useSelect(
 		( select ) => {
-			const {
-				getBlockRootClientId,
-				getBlockTransformItems,
-				__experimentalGetReusableBlockTitle,
-			} = select( blockEditorStore );
+			const { getBlockRootClientId, getBlockTransformItems } = select(
+				blockEditorStore
+			);
 
 			const { getBlockStyles, getBlockType } = select( blocksStore );
 			const rootClientId = getBlockRootClientId(
@@ -55,14 +55,8 @@ export const BlockSwitcherDropdownMenu = ( { clientIds, blocks } ) => {
 			const styles =
 				_isSingleBlockSelected && getBlockStyles( firstBlockName );
 			let _icon;
-			let reusableBlockTitle;
 			if ( _isSingleBlockSelected ) {
 				_icon = blockInformation?.icon; // Take into account active block variations.
-				reusableBlockTitle =
-					isReusableBlock( blocks[ 0 ] ) &&
-					__experimentalGetReusableBlockTitle(
-						blocks[ 0 ].attributes.ref
-					);
 			} else {
 				const isSelectionOfSameType =
 					uniq( blocks.map( ( { name } ) => name ) ).length === 1;
@@ -80,14 +74,14 @@ export const BlockSwitcherDropdownMenu = ( { clientIds, blocks } ) => {
 				),
 				hasBlockStyles: !! styles?.length,
 				icon: _icon,
-				blockTitle:
-					reusableBlockTitle || getBlockType( firstBlockName ).title,
+				blockTitle: getBlockType( firstBlockName ).title,
 			};
 		},
 		[ clientIds, blocks, blockInformation?.icon ]
 	);
 
 	const isReusable = blocks.length === 1 && isReusableBlock( blocks[ 0 ] );
+	const isTemplate = blocks.length === 1 && isTemplatePart( blocks[ 0 ] );
 
 	const onTransform = ( name ) =>
 		replaceBlocks( clientIds, switchToBlockType( blocks, name ) );
@@ -139,11 +133,9 @@ export const BlockSwitcherDropdownMenu = ( { clientIds, blocks } ) => {
 									className="block-editor-block-switcher__toggle"
 									showColors
 								/>
-								{ isReusable && (
+								{ ( isReusable || isTemplate ) && (
 									<span className="block-editor-block-switcher__toggle-text">
-										{ truncate( blockTitle, {
-											length: 35,
-										} ) }
+										<BlockTitle clientId={ clientIds } />
 									</span>
 								) }
 							</>
diff --git a/packages/block-editor/src/components/block-switcher/style.scss b/packages/block-editor/src/components/block-switcher/style.scss
index 55c978bb500d5a..a3d17760fcdca8 100644
--- a/packages/block-editor/src/components/block-switcher/style.scss
+++ b/packages/block-editor/src/components/block-switcher/style.scss
@@ -22,6 +22,15 @@
 
 .block-editor-block-switcher__toggle-text {
 	margin-left: $grid-unit-10;
+
+	// Account for double label when show-text-buttons is set.
+	.show-icon-labels & {
+		display: none;
+	}
+}
+
+.show-icon-labels .block-editor-block-toolbar .block-editor-block-switcher .components-button.has-icon::after {
+	font-size: 14px;
 }
 
 // Indent the popover to match the button position.
diff --git a/packages/block-editor/src/components/block-title/index.js b/packages/block-editor/src/components/block-title/index.js
index e19125a6c95f5b..5a4b9a3e0e1219 100644
--- a/packages/block-editor/src/components/block-title/index.js
+++ b/packages/block-editor/src/components/block-title/index.js
@@ -65,16 +65,12 @@ export default function BlockTitle( { clientId } ) {
 	const blockInformation = useBlockDisplayInformation( clientId );
 	if ( ! name || ! blockInformation ) return null;
 	const blockType = getBlockType( name );
-	const label = getBlockLabel( blockType, attributes );
-	// Label will fallback to the title if no label is defined for the
-	// current label context. We do not want "Paragraph: Paragraph".
-	// If label is defined we prioritize it over possible possible
-	// block variation match title.
+	const label = reusableBlockTitle || getBlockLabel( blockType, attributes );
+	// Label will fallback to the title if no label is defined for the current
+	// label context. If the label is defined we prioritize it over possible
+	// possible block variation title match.
 	if ( label !== blockType.title ) {
-		return `${ blockType.title }: ${ truncate( label, { length: 15 } ) }`;
-	}
-	if ( reusableBlockTitle ) {
-		return truncate( reusableBlockTitle, { length: 35 } );
+		return truncate( label, { length: 35 } );
 	}
 	return blockInformation.title;
 }
diff --git a/packages/block-editor/src/components/block-title/test/index.js b/packages/block-editor/src/components/block-title/test/index.js
index 23af6288130e01..e2fb00937ba045 100644
--- a/packages/block-editor/src/components/block-title/test/index.js
+++ b/packages/block-editor/src/components/block-title/test/index.js
@@ -103,7 +103,7 @@ describe( 'BlockTitle', () => {
 
 		const wrapper = shallow( <BlockTitle clientId="id-name-with-label" /> );
 
-		expect( wrapper.text() ).toBe( 'Block With Label: Test Label' );
+		expect( wrapper.text() ).toBe( 'Test Label' );
 	} );
 
 	it( 'truncates the label if it is too long', () => {
@@ -116,8 +116,6 @@ describe( 'BlockTitle', () => {
 			<BlockTitle clientId="id-name-with-long-label" />
 		);
 
-		expect( wrapper.text() ).toBe(
-			'Block With Long Label: This is a lo...'
-		);
+		expect( wrapper.text() ).toBe( 'This is a longer label than typi...' );
 	} );
 } );
diff --git a/packages/blocks/README.md b/packages/blocks/README.md
index 2f3e282cab2ca4..f2347725ba74b9 100644
--- a/packages/blocks/README.md
+++ b/packages/blocks/README.md
@@ -534,6 +534,20 @@ _Returns_
 
 -   `boolean`: Whether the given block is a reusable block.
 
+<a name="isTemplatePart" href="#isTemplatePart">#</a> **isTemplatePart**
+
+Determines whether or not the given block is a template part. This is a
+special block type that allows composing a page template out of reusable
+design elements.
+
+_Parameters_
+
+-   _blockOrType_ `Object`: Block or Block Type to test.
+
+_Returns_
+
+-   `boolean`: Whether the given block is a template part.
+
 <a name="isUnmodifiedDefaultBlock" href="#isUnmodifiedDefaultBlock">#</a> **isUnmodifiedDefaultBlock**
 
 Determines whether the block is a default block
diff --git a/packages/blocks/src/api/index.js b/packages/blocks/src/api/index.js
index cedca941340778..afc632fe4942bc 100644
--- a/packages/blocks/src/api/index.js
+++ b/packages/blocks/src/api/index.js
@@ -123,6 +123,7 @@ export {
 	hasBlockSupport,
 	getBlockVariations,
 	isReusableBlock,
+	isTemplatePart,
 	getChildBlockNames,
 	hasChildBlocks,
 	hasChildBlocksWithInserterSupport,
diff --git a/packages/blocks/src/api/registration.js b/packages/blocks/src/api/registration.js
index 8aa2f025410adf..6d327d3b0e2c88 100644
--- a/packages/blocks/src/api/registration.js
+++ b/packages/blocks/src/api/registration.js
@@ -474,6 +474,19 @@ export function isReusableBlock( blockOrType ) {
 	return blockOrType.name === 'core/block';
 }
 
+/**
+ * Determines whether or not the given block is a template part. This is a
+ * special block type that allows composing a page template out of reusable
+ * design elements.
+ *
+ * @param {Object} blockOrType Block or Block Type to test.
+ *
+ * @return {boolean} Whether the given block is a template part.
+ */
+export function isTemplatePart( blockOrType ) {
+	return blockOrType.name === 'core/template-part';
+}
+
 /**
  * Returns an array with the child blocks of a given block.
  *