We'll begin this tutorial, by selecting the "Type Tool." Select Except as the typeface at a size of 50, Tracking at -40 and with the color set to 1290c5. Type "shiny" set the blending mode to "Color Dodge" and go on.
Now that you have your text, you can now right click on the text layer and select, "Blending Options...". Now click on "Inner Shadow".
Do not click OK yet... still more to do
Now click on "Stroke".
You may now click OK.
You should now have the following:
Now select the "Pen Tool" and draw a wavy effect as illustrated below:
Next, set the blending mode of the new shape layer to Screen, turn the fill down to 75%, then go to the main menu and select "Layer" then "Create Clipping Mask" or "Alt" (windows) "Cmd" (mac) the layer in the layers palette.
Now duplicate the text layer and move so it is under the first text layer and above the background. Rid its current style by right clicking the layer in the layers palette and selecting "Clear Layer Style." Now change the Blending Mode to "Color Dodge" and the color of the text to b2d7ed by double clicking the icon on the layer in the layers palette.
Next, go to the main menu and select "Filter" then "Blur" and lastly "Gaussian Blur" and use the below settings.
Hope you liked this tutorial.