@Sith56: You can check out the theme instruction page for details http://catchthemes.com/theme-instructions/catch-everest/.
1. As you are using Catch Everest Free theme you have option just to just “Featured Post Slider”.
For this, you need to create the post and add featured image in your post.
Go to “Appearance => Theme Options => Featured Post Slider” in your WordPress Dashboard
To add Posts in the slider, click on Slider Options and simply insert the ID numbers for posts in the boxes, one post ID number in each box
To change the slider effects and timing, go to Slider Effect Options which is just below Slider Options
Click on Save button
2. If you are talking about the 3 featured homepage content. Then you can change that image, title, link from “Appearance => Theme Options => Homepage Settings => Homepage Featured Content Options” in your WordPress Dashboard.