Step 1
Open up a new image or the image you want to add text to. Choose the T tool and click the image to add text.
Step 2
Now go to the Layer Palette and right click your text layer, then click Blending Options…:
Step 3
In the pop up box, you can then click the various options on the left (both the check boxes and the titles themselves) to play around with text effects:
Step 4
Once you’re happy, just hit OK to transform your text! Here are some effects as examples:
Step 5
Combining different options also works really well to get a more varied look:
Step 6
Back in the Layer Palette (Step 2), choose Warp Text from the initial list. You can then choose from a variety of options to angle your text:
Step 7
Combine with other effects to end up with your finished text. My example below uses Wave, Drop Shadow, Inner glow, Gradient overlay, Satin and Stroke: