We can make too many text effect in the photoshop, this text effect is one of them.
New File: Take a new File and adjust the file size as you need.
Write Text: Select Horizontal Type Tool (T key) and write any word in the file.
Effects: Go to Layer Menu > Layer Style > Stroke, Drop Shadow, Bevel and emboss and use setting as given below.
Here is your result.
Recommend the tutorial