CanvasRenderingContext2D.textBaseline

Playable code

<canvas id="canvas" width="400" height="200" class="playable-canvas"></canvas>
<div class="playable-buttons">
  <input id="edit" type="button" value="Edit" />
  <input id="reset" type="button" value="Reset" />
</div>
<textarea id="code" class="playable-code">
ctx.font = "48px serif";
ctx.textBaseline = "hanging";
ctx.strokeText("Hello world", 0, 100);</textarea>

var canvas = document.getElementById("canvas");
var ctx = canvas.getContext("2d");
var textarea = document.getElementById("code");
var reset = document.getElementById("reset");
var edit = document.getElementById("edit");
var code = textarea.value;

function drawCanvas() {
  ctx.clearRect(0, 0, canvas.width, canvas.height);
  eval(textarea.value);
}

reset.addEventListener("click", function() {
  textarea.value = code;
  drawCanvas();
});

edit.addEventListener("click", function() {
  textarea.focus();
})

textarea.addEventListener("input", drawCanvas);
window.addEventListener("load", drawCanvas);