Android List-Layer Drawable with VectorDrawable Text

listlayer.xml

<?xml version="1.0" encoding="utf-8"?>
<layer-list xmlns:android="http://schemas.android.com/apk/res/android">
    <item android:state_checked="true">
        <shape>
            <solid android:color="@android:color/white"/>
            <corners android:radius="5dp"/>
        </shape>
    </item>
    <item android:drawable="@drawable/vector"/>
</layer-list>

vector.xml

<?xml version="1.0" encoding="utf-8"?>
<vector xmlns:android="http://schemas.android.com/apk/res/android"
        android:height="32dp"
        android:width="32dp"
        android:viewportHeight="200"
        android:viewportWidth="200">
    <path android:name="text"
          android:fillColor="@android:color/black"
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</vector>

Will this work on Pre-Lolipop devices?

On pre-lollipop will work as a regular vector. Basically, works, but be aware of stretching on some devices so workarounds needed.

How can I change the text?

@maulik-simformsolutions you will need to create a vector drawable with the text that you want. There are various tools out there that will allow you to create them. I used inkscape for the one that I created.