Creating a Cool Text Effect

Start by opening a new file. Type the text with a bold font like arial black or impact.

Ctrl+Click the layer to get the selection of the text.

Press Ctrl+Alt+D to apply feather the edges.

Press Ctrl+Shift+I to inverse the selection.

Press delete to smoothen the edges.

From filter menu select modify>>contract. Contract the edges by 2 pixels.

Delete the inner area.

Merge the layers by pressing Ctrl+E. Now press Ctrl+I to invert the colors.

From image menu select rotate canvas>>90 degree cw.

From filter menu select stylize>>wind.

Apply wind settings as shown.

Press Ctrl+F to make the effect stronger.

From image menu select rotate canvas>>90 degree ccw.

From filter manu select distort>>polar coordinate. Apply polar to rectangle mode.

Apply wind effect on the layer.

Now again apply polar coordinate. This time use rectangle to polar mode.

From image menu select adjustments>>hue/saturation.

Apply settings as shown.

A cool text effect is ready to surprise you.