Create a cool 3D text Effect like these.

Step 1
Create a blank document of the desired size.

Type your text in black on a white background.

I used a pixel font (thus the cool X) but you can use any font you want.

Step 2
You have to apply a bunch of layer styles (right click text layer and choose blending options):

Drop Shadow:

Outer Glow:

Inner Glow:

Gradient Overlay:

You might to change some of the values to achieve a different outcome of the 3D text.

The text will look something like this now:

Right click the text layer and choose Rasterize.

Step 3
Hit CTRL-T and choose Warp or Perspective and distort the text any way you want.

I used Warp and came up with this:

Step 4
Alright, now hold down ALT and start pressing left and down repeatedly until you are satisfied with the 3D effect:

Step 5
Click Image –> Flatten Image.

If you want to colorize your image hit CTRL-U and pick a nice color like this:

Step 6
If you want the fiery color for you 3D Text do this:

Go to Image –> Mode –> Grayscale

then Image –>Mode –> Indexed Colors

and finally Image –>Mode –> Color Table and choose Black Body

There you go. your 3D text: