Keynote

Change object transparency in Keynote on Mac
You can create interesting effects by making objects more or less opaque. When you put a low-opacity object on top of another object, for example, the bottom object shows through.

Click to select an image, shape, text box, line, arrow, drawing, 3D object, or video, or select multiple objects.
If you select a text box, everything in the text box, including the text and any background color, is changed.
For a drawing, click the Drawing tab in the Format
sidebar, then drag the Opacity slider. For any other item, click the Style tab in the sidebar, then drag the Opacity slider.
You can also enter values in the field next to the slider, or click the arrows next to the field.