As society becomes more reliant on IoT devices, it’s crucial for users to navigate the varying privacy and security risks. However, these risks differ significantly between devices, making it difficult for users to fully understand them. To address this challenge, we developed the first Canadian Privacy and Security Label for IoT devices, similar to nutrition labels, to communicate privacy and security risks in a user-friendly way. The label’s design ensures comprehensibility by incorporating best practices. We also created an Android app that provides easy access to the label and allows users to customize their privacy and security preferences. We surveyed 122 Canadians to evaluate the label’s effectiveness, preferences, and appeal. The findings suggest that the label is more readable, digestible, and visually more appealing compared to previous designs. The app also enhances user engagement and raises awareness about IoT privacy and security concerns.