Step 1: Start off with a new white 350x350px document. Grab your text tool and type some text up like below, I chose the color orange.
Step 2: Go up to Layer -> Type -> Convert to Shape. You'll probably see an annoying outline around your text, to hide that just hit CTRL + H.
Step 3: Now go up to Edit -> Transform -> Perspective. Grab the top right handle pointer and drag it up so you get this effect, once you receive an effect that pleases you, hit enter on your keyboard.
Step 4: Now duplicate your layer by dragging the current layer onto the new layer button. With the bottom layer selected, fill it black, you can either CTRL + CLICK on the layer and fill it black or double click the like slider icon in the layers pallete to change the color.
Step 5: Now hide the top color layer and the background, and with the black layer selected, hold CTRL + ALT and begin hitting your right arrow key maybe 15 times to nudge it and get your 3D effect. You should now have your black 3D text on transparent layer. Now go up to Layer -> Merge Visible. And unhide all your layers, and you should now have something like below, enjoy! If something went wrong please post in the forums.
