Today, the time has come for a new tutorial involving the Type Tool and some effects applied to your text. Since the title and the image below should say it all, fire up your Photoshop and let’s get busy!
Punched Text

1. Create a new document in Photoshop, using any settings you need, or simply grab a texture from the Internet, or your drive, if you have some, and open it. I will get a texture from the web and open it in Photoshop, as you can see below…
Punched Text

2. Use the Horizontal Type Mask Tool to type in your text.
Punched Text

3. Press Ctrl+C, followed by Ctrl+V, to copy the selected area into a new layer.
Punched Text

4. In the Blending Options window for the new layer, enable Inner Shadow, with its default settings. If the image looks really bad after that, you can try playing with those settings, but this depends on the image you’re using, as usual.
Punched Text

5. Now, adjust the Brightness and Contrast settings for the text layer to negative values, somewhere between -20 and -60, depending on the texture you are using. I used -150 for Brightness, and -50 for Contrast, because the texture chosen wasn’t such a good idea…
Punched Text

As a final hint, I suggest you to try the tutorial about creating a rusty texture in Photoshop, I am sure the punched text would look simply great using that texture, and you’ll also get to learn something new, if you missed that one when I posted it…