Now go ahead and create your magazine name title. Take your time to come up with something interesting. It?s best to look at magazines to see what others are doing and then go off of that when you are stuck for ideas.
Here I?m using IMPACT font and in the text editing field, I?m right clicking and choosing Warp Text.
From the warp text menu I?m choosing bulge. This is just to create a little more ?flava? to the otherwise pretty basic text. Go ahead and do something like this.
Press OK and then to exit the text editing field you?ll have to
click on another tool or layer.
Now grab your rectangular marquee tool and create a rectangular selection all
the way across the top of the image.
Now press the new layer icon and then choose a pinkish color from the color chooser
press OK and then Edit: Fill: Foreground color or Alt/Opt Backspace to fill the selection on the new layer
with pink.
If you?ve never done this before, get used to it; shape fills are used all the time in commercial design. You could also use the Shapes tool on rectangular (there are different ways to do things quite often in Photoshop).
Grab your type tool again and create some more text. Just click near the top (shift click to start a new text layer no matter where you want). Type something new in the editing field such as Free Posters. Highlight the text in the editing field and choose your color picker and change the color to yellow and press OK.
Note how I?ve created that space between the two words. You can either create a duplicate layer of the word FREE by dragging it to the new layer icon and then double clicking on the layer icon in the layers palette...
...and then entering POSTERS, going to the moVe tool and hold Shift while you drag it to the right...or you can just enter a long space in the same text editing field. This way I have separate type layers on top.
To make things a little more vibrant, go to your original title text layer and choose Stroke from the lower left pop up menu.
Click in the color box to bring up the color picker box and drag the mouse outside of the box to get your eyedropper. Now click on the top header bar to get that exact same color, then press OK.
In this case, keep the size between 1-3 in the stroke editing properties box.
More Tutorials: 
