
Step 2: Select your text by holding down Ctrl and left click on your text layer

Step 3: Go to Filter > Render > Difference Clouds. Press Ctrl-F six times to repeat this effect. After this step we will get

Step 4: Press Ctrl-D to deselect your text. Go to Filter > Artistic > Plastic Warp and use these settings:

and we get

Step 5: Press Ctrl-U to open the Hue/Saturation dialog box. Make sure to tick on the Colorize checkbox and use these settings:





