
This effect gives the impression that the text has been cut out to reveal another layer underneath.
1. Open a new document. Mine is 500px X 200px, resolution 72.
2. Fill with a background color of your choice, I've used a copper gradient but any light color will do.
3. Make a new layer above this one for the foreground, I've used a web color of dark gray (333333) but any
darker color will do. You should have something like this -
4. Enter your text. Make sure that the text layer is at the top. The color does not matter as it will only be used to make a selection. Your image should be something like this -
5. Make sure you have your foreground layer selected in the layers palette and load the text layer (hold down control and click on the thumbnail).
6. Press backspace to delete the selected area on the foreground layer, you can now turn off the text layer but DO NOT DE-SELECT just yet. You now should have something like this -

7. Click on the Selection Tool in the toolbar (top left), this will allow you to move the selection using the arrow keys on your keyboard -
8. We need to feather the selection a bit, Select>Feather (or Ctrl+Alt+D) and enter a 1 pixel feather.
Hit OK.
9. Now using the arrow keys on your keyboard move the selection Down one and Right one. Make sure you are working on the foreground layer.
10. Go to Image>Adjustments>Brightness/Contrast and move the Brightness slider all the way to the right.
This will add the highlights.
11. Now move the selection (arrow keys again) UP two and Left two.
12. Go to Image>Adjustments>Brightness/Contrast and move the Brightness slider all the way to the left.
This will add the low lights.
13. You can now de-select (Ctrl+D).
14. We need to add a bit of dark outer glow to the foreground layer to give the text a bit of depth. Double click on the foreground layer in the layers palette (or click on the little 'f' icon at the bottom of the
layers palette) to bring up the Layer Style dialog box. Select Outer Glow over on the left and enter these settings -
The glow color needs to be black.
That's it folks, your end result should look something like this -
You can use this effect for other things as well, Hope you find a use for this simple little effect.