Adobe Photoshop Tutorials
Create a blank document, I made it 400*100px, you might want to make it larger.
Black background. White foreground.
Choose a nice font (not too thin) and write type your text.
Hold down CTRL and click on the textlayer's icon to select your text and then apply Filter --> Render --> Clouds
Hit CTRL-D to deselect the text.
Hit CTRL-E to merge down the layers.
You're going to use Extrude now (Filter --> Stylize --> Extrude..)
I used these setting:
Play with the settings until you are satisfied with the spikes.
Hit CTRL-U to dye the spikes.
That's it. Depending on your choices for Extrude and the color, the result will look something like this: