Self-reported ethnic labels were examined among 242 young American adults with Chinese ancestry (age range = 18–32 years, M = 23.97; 73% female, 27% male). Ethnic labels fell under broad categories whereby 22% reported heritage national labels (e.g., Chinese), 35% added American to their heritage national label (e.g., Chinese American), and 42% reported panethnic-American labels (e.g., Asian American). Logistic regressions revealed that generation and ethnic exploration significantly predicted the odds of choosing heritage national and heritage national-American labels. Ethnic label choice was not associated with average differences in the ethnic diversity of youths’ community or peer group, or with heritage language proficiency. However, label choice was associated with generation, ethnic identity, and English proficiency. Ethnic labels also were linked to self-esteem and positive relationships with Asian peers, with most optimal outcomes reported by youth who chose heritage national-American labels.