1. Begin with a new file. Its size and color are irrelevant. Then take the Text Tool and type in your text.
2. Then go to the layers palette and right click on the text layer. Choose Blending Options, and then apply these settings.
3. Click OK, and then hold down Ctrl+Alt and press the up arrow key. Do this a couple of times and you are done! This is what I came up with.
More Tutorials: 
