Sorry.........I wasn't sure how versed you were with basic Ps techniques so I was very vague about that step thinking you would understand. I didn't know how much needed to be explained. Also, I'm getting to the point to where I'm no longer going to do anymore explanations of any kind on this forum.
Create the initial (original) rectangle. (Note: Do not transform until all layers are finished and placed within a group)
On a new layer, use the Type Tool to create the text. Turn off the Type layer when done.
Cmd/Cntrl + click the Type layers thumbnail to make a selection.
With the selection active, add a layer mask to the initial rectangle layer.
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Then click on the layer mask to select, then right click the layer mask and choose "apply layer mask".
This will be your first or top layer..............also note because I failed to mention, that I changed the top layers color after I was done duplicating it 7 times. Also note that 7 was arbitrary, you can duplicate it as many times as needed to make it the thickness you desire.
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One way you can make the top layer any color you wish is by adding and clipping a solid color adjustment layer to the top initial rectangle layer at any time.
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Another way to add color and texture is by using the layer style on the top initial rectangle layer.
Use "Pattern Overlay" to add texture, and "Color Overlay" to add color.
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I usually keep the Type layers, but I deleted it in my sample PSD to keep the file size down.
