One way to make something similar to this style would be to use multiple layers with layer styles. Here's how:
In a new document, make the background pink.
On a new layer, type your text (you can use Photoshop's Match Font if you'd like to try to find a similar font to the example)
With the text layer selected, go to Layer > Layer Style > Stroke (you can also double-click on the layer but make sure you double-click in the empty space to the right of the layer name and then click Stroke)
In the Layer Style dialog in the Stroke section, use the following settings then click OK:
However wide you want the stroke, set the size
Position: Outside
Blend Mode: Normal
Opacity: 100
Fill Type: color
Color: select white
Duplicate the text layer by dragging it to the bottom of the Layers panel on top of the + icon
Double-click on the duplicated text layer to the right of the name and click on Stroke in the list (don't uncheck it)
Change the color of the stroke to cyan, click OK to close the Color Picker, and click OK to close the Layer Style dialog.
With this text layer still selected, change Fill (not Opacity) in the upper part of the Layers panel to 0%.
With the Move tool (V) selected, move the text down and over (you can also use the arrow keys on your keyboard)
Duplicate the duplicated text layer, double-click on it to open its Layer Styles, and select Stroke.
Change the Blend Mode to Difference & click OK.
Nudge this layer up and to the right.
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