how to create this text effect?

[jughead77a]

[Mylenium]

It's called a faux/ fake perspective shadow/ extrude. A simple web search for combinations of these terms will turn up tons of tutorials for any program you can imagine. A simple quick & dirty way in PS would be to just duplicate the source layer a ton of times and arrange the duplicates to form the thick rim, then color the merged layers and color them in whatever way you fancy.

Mylenium

[c.pfaffenbichler]

Another way would be to use Photoshop’s 3D capabilities to create an extrusion of a text with an outline, but that might be more hassle than it’s worth unless the task is a frequent one for you… 

[Grant H]

Do you have Illustrator? This takes almost no time. In illustrator you can "ummm angle the extrusion" easier.

[c.pfaffenbichler]

I assume you used Illustrator’s Effect > 3D > Extrude & Bevel? 

[Grant H]

You assume correctly sir

[Grant H]

Oh, and i selected NO shading.

[davescm]

You can make that quickly in Photoshop 3D by making a 3D extrusion from the text then setting the Current View to orthographic and the Scene preset to Unlit Texture. To get the outline adjust the bevel width for the extrusion.

Because it is unlit, rendering is very fast as there is no complex ray tracing.

You can re-edit the text at any time by clicking on the object in the 3D panel and choosing Edit Source in properties

Dave