Adobe Photoshop Tutorials
Create a blank document, size depends on the size of your text, I made it 300*300px.
Black background. White foreground.
Type your text.
Use Filter --> Distort --> Polar Coordinates..
Select Rectangular to Polar.
Turn the cancas by 90° clockwise (Image --> Rotate Canvas --> 90° CW)
Now use the Wind Effect.
Filter --> Stylize --> Wind..
Use it once from the right and once from the left .
Your image will look something like this now:
You're going to use Polar Coordinates again.
Use Polar to Rectangular this time.
Turn the cancas by 90° UNclockwise (Image --> Rotate Canvas --> 90° UCW):
Select your text layer (CTRL-D).
Create a new channel in the channels tab.
Fill the selected area with white and use Gaussian Blur (Filter --> Blur --> Gaussian Blur) with a radius of about 4 pixels.
Return to the text layer and hit CTRL-D.
Go to Filter --> Render --> Lighting Effects..
Choose Alpha 1 as your Texture Channel and adjust the settings like seen below.
It will look something like this now:
Pick a color (CTRL-U).
There's your wax text.