Text effect

[default4deqjaw1irhh]

Does anybody know how to create this watercolor-like text effect in Photoshop? 

[c.pfaffenbichler]

I would recommend using a stock image of a watercolored background (or generative fill), clipping mask that to a Filtered Smart Object (edit: Displace with an appropriate Displacement Map among them) of the Text with an »Inner Glow« Layer Style and use Solid Color Layers to colorize. 

[didiermazier]

It seems hand drawn. maybe it would be interesting to find a watercolor font like this : https://www.dafont.com/watercolor.font

or thsi one at Adobe fonts :

https://fonts.adobe.com/fonts/hey-eloise

You can try to search with "marker" to get this type of fonts

You can also use the filter gallery with several water color effects…

[didiermazier]

here is a try

filter gallery is watercolor… The gradient must be worked on  to get a specified color for each letter but that would be doable