Can Adobe Premiere do this?

I have Adobe Premiere installed, but I've actually never used it before—so I was wondering if it's even possible to pull off something like this:
I have this short video clip, and what I'm looking to do is highlight a dancing couple by adding some kind of marker—maybe a line, some text, or something similar—that actually follows them as they move for about 3 seconds.
I hope I'm making sense and explaining what I'm after!

That should work, provided you tell me which version you're running. You might have to manually adjust the file path, but honestly, it isn't much of a hurdle.

I'm currently running Adobe Premiere v.9.0
So, I was wondering—if I wanted to highlight a specific dance duo, maybe by circling them with an ellipse or some kind of closed path, and then have that shape follow them for just a quick 2-3 seconds...

So, you just drop a new title layer on top of your video clip and draw an ellipse or whatever shape you need there.
Then you stretch that whole layer out to match the exact duration of the shot where you want to track that detail.
Select that title layer on your timeline and head over to the "Effect Controls" tab.
Slide your playhead to the start of the layer, and you should see your video with the ellipse sitting right on top in the program monitor.
In those "Effect Controls," look under "Motion," hit that little stopwatch icon to kick off your keyframes, and then just move the ellipse to wherever it needs to be... that saves your first position.
After that, just nudge the playhead forward a few frames or a second and reposition the ellipse again.
Keep repeating that loop until you've covered the whole thing, letting the keyframes handle all the movement.
I mean, sure, you could technically tweak it frame by frame if you had nothing better to do, but that’s a massive grind... since there aren't any crazy fast movements, just adjusting it every 10 or 20 frames usually looks fine enough.
...that's pretty much the gist of it...

Thanks so much—that was such a clear explanation! I think I'll take my time and try out everything you mentioned, bit by bit.