Option Explicit

Private Sub Form_MouseUp(Button As Integer, Shift As Integer, x As Single, y As Single)
  If Button = vbRightButton Then
    'PopupMenu
    Dim hMenu As Long
    Dim pt As POINTAPI
    Dim rc As RECT
    Dim lReturn As Long
    GetCursorPos pt
    hMenu = CreatePopupMenu()
    AppendMenu hMenu, MF_STRING, 1, "Ïóíêò #1"
    AppendMenu hMenu, MF_STRING, 2, "Ïóíêò #2"
    AppendMenu hMenu, MF_STRING, 3, "Ïóíêò #3"
    lReturn = TrackPopupMenu(hMenu, TPM_LEFTBUTTON Or TPM_RETURNCMD, pt.x, pt.y, 0, Me.hwnd, rc)
    Select Case lReturn
      Case 1:
        MsgBox "Ïóíêò #1"
      Case 2:
        MsgBox "Ïóíêò #2"
      Case 3:
        MsgBox "Ïóíêò #3"
      Case Else
    End Select
    DestroyMenu hMenu
  End If

End Sub

Option Explicit

Public Type RECT
  Left As Long
  Top As Long
  Right As Long
  Bottom As Long
End Type

Public Type POINTAPI
  x As Long
  y As Long
End Type

Public Declare Function GetCursorPos Lib "user32" (lpPoint As POINTAPI) As Boolean

Public Const MF_STRING = &H0&

Public Declare Function AppendMenu Lib "user32" Alias "AppendMenuA" (ByVal hMenu As Long, _
 ByVal wFlags As Long, ByVal wIDNewItem As Long, Optional ByVal lpNewItem As String) As Long
Public Declare Function CreatePopupMenu Lib "user32" () As Long
Public Declare Function DestroyMenu Lib "user32" (ByVal hMenu As Long) As Boolean

'uFlags
'which mouse button the shortcut menu tracks
Public Const TPM_LEFTBUTTON = &H0 'òîëüêî ëåâàÿ êíîïêà ìûøè
'to control discovery of the user selection without having to set up a parent window for the menu
Public Const TPM_RETURNCMD = &H100& 'returns the menu item identifier of the user's selection in the return value.

Public Declare Function TrackPopupMenu Lib "user32" (ByVal hMenu As Long, _
 ByVal uFlags As Long, ByVal x As Long, ByVal y As Long, ByVal nReserved As Long, _
 ByVal hwnd As Long, ByRef prcRect As RECT) As Long

Option Explicit

Private Sub Form_MouseUp(Button As Integer, Shift As Integer, x As Single, y As Single)
  If Button = vbRightButton Then
    'PopupMenu
    Dim hMenu As Long
    Dim pt As POINTAPI
    Dim rc As RECT
    Dim lReturn As Long
    GetCursorPos pt
    hMenu = CreatePopupMenu()
    AppendMenu hMenu, MF_STRING, 1, "Number #1"
    AppendMenu hMenu, MF_STRING, 2, "Number #2"
    AppendMenu hMenu, MF_STRING, 3, "Number #3"
    lReturn = TrackPopupMenu(hMenu, TPM_LEFTBUTTON Or TPM_RETURNCMD, pt.x, pt.y, 0, Me.hwnd, rc)
    Select Case lReturn
      Case 1:
        MsgBox "Number #1"
      Case 2:
        MsgBox "Number #2"
      Case 3:
        MsgBox "Number #3"
      Case Else
    End Select
    DestroyMenu hMenu
  End If

End Sub

   Dim pt As POINTAPI : pt.x = sender.Left : pt.y = sender.Bottom
    ClientToScreen(sender.parent.Handle, pt)
    'ранее выводили в {Control.MousePosition.X, Control.MousePosition.Y}
    Dim lReturn As Integer = TrackPopupMenu(hMenu, TPM_LEFTBUTTON Or TPM_RETURNCMD, pt.x, pt.y, 0, Me.Handle)