Step 1
Create a new document. click on the Ellipse Tool under the Tool Palette. Draw an oval and apply a stroke to it so you can see it.
Step 2
click on the Text Tool and on the same layer as the oval, go over the side of the oval until the icon on the cursor changes. It should look like a text icon with a line through it. Begin typing your message. It should follow the curve of your oval. After you finish typing, align your word by using your spacebar or delete keys. Finally, hide or delete your oval and you should only be left with word.
Final Result:
More Tutorials: 
