How to add hyperlink using custom fields?

I created a Terms of Use checkbox in the registration form and the label is the verbiage, but I want to add a hyperlink so that the user can click on the link to view the Terms of Use Agreement. How can I do this?

Also can you put a field next to another field instead of one below the other via the interface?

Example;

label [ field ] label [ field ]

instead of;

label [ field ]

label [ field ]

Thank you for your help