The B-Spline button
draws B-spline curves. B-splines are smooth curves based on at least three points. The curve touches the first and last points and is pulled by the middle point.
Objects drawn with the B-Spline button are open unless the last point is the same as the first; then Designer automatically closes it. If you want to close an open curve, select the object, and click Connect Closed on the Arrange menu. The ends are connected with a straight line.