Type the text of your signature in the Signature text box.
Select Finish when you are happy with it.
Add any other signatures as required by selecting New again.
Return to the Mail Format tab and change the default signature if necessary, (Outlook will automatically use the last signature you entered as the default for your messages).
Selecting a different signature for a message
If you send mostly internal emails, set your default signature to be your internal signature, and insert your external signature as required.
If you send an equal number of internal and external emails, set your default signature to None, and insert the appropriate signature as follows:
When you get to the end of your email, select Insert > Signature

Select the one you want, and it will be inserted where your cursor is.
Note: More gives you a preview of your signatures.