Paypal will not allow you to print a shipping label until the item has cleared. This is a useful excuse for impatient buyers who paid from bank accounts.
However.
Paypal will hold your cleared payment for 21 days for your good customer service.
If the payment has cleared, and you can print a PP shipping label, ship as soon as possible.
You don't actually have to use the PP label, but it is efficient and can save you 5% to 18% off the cost at the PO counter.
PP will deposity the money to your account when the 21 days is up, as long as there is not a customer complaint on file.
Don't panic. It will all work out.