How do I make a custom button?

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VB

Hi all. I am trying to make a custom button which is a label actually.
I have two issues. I cannot repaint when mouse enters control AND I cannot change the property of the PaintBackColor, HoverBackColor And BorderColor properties in the designer. Here is the code I currently have..

Public Class PlayButton : Inherits Label
    Public Property PaintBackColor As Brush
    Public Property HoverBackColor As Brush
    Public Property BorderColor As Brush
    Public Property BorderSize As Single
    Protected Overrides Sub OnPaint(ByVal pevent As System.Windows.Forms.PaintEventArgs)
        TextAlign = ContentAlignment.MiddleCenter
        FlatStyle = Windows.Forms.FlatStyle.Flat
        BackColor = Color.Transparent
        AutoSize = False
        Dim OutPen As Pen = New Pen(BorderColor, BorderSize)
        pevent.Graphics.DrawEllipse(OutPen, 0, 0, Width, Height)
        pevent.Graphics.FillEllipse(PaintBackColor, 0, 0, Width, Height)
        MyBase.OnPaint(pevent)
    End Sub

    Protected Overrides Sub OnMouseEnter(ByVal e As System.EventArgs)
    End Sub
End Class

Thank you in advance,
iProgramIt