1. Start a new document. The size of your document depends on how big your text is going to be. Since this is just for a tutorial, I chose 400x150. Choose a color for the foreground in your palette. I chose a brightish green (#20C443). Select the Horizontal Type Tool (Text tool) and write the word "SCARY" (Or whatever you want to write) in all capital letters. Since I used the BN Manson Nights font, my text looked like this:

2. You have a choice here. You can either use Filter > Sketch > Chalk & Charcoal..., or you can apply a gradient of Foreground to Background later on. If you want to use the chalk & charcoal, set the Stroke Pressure to 1, but you can fiddle around with the Chalk & Charcoal Area. The following information is required for both paths, if you want to use a gradient or if you do not. Go to Layer > Layer Style > Blending Options..., and check the following:

Drop Shadow - Opacity: 85%, Distance: 6 px, Spread: 100%
Stroke - Size: 2 px, Color: #000000

Use the option below ONLY if you wanted to put a gradient on your text.
Set the background color in your palette to zombie skin green (#006E4B), then check:
Gradient Overlay - Gradient: Foreground to Background, Reverse: Checked, Scale: 30%

Depending on which method you used, your text should either look like ths (If you used the Chalk & Charcoal):

Or this (If you used the Gradient Overlay):

You're finished! You can change the settings around to get different effects, but now you can make that old horror comic book text!

Did you find something wrong with this tutorial? E-mail me and tell me what I need to fix.