Creating a 3D Text Effect in Photoshop is pretty simple, first we create a new Document
File -> New...
New Document
Now we select the Text tool from the Toolbar. Choose a Font, the size and the color which will be the backgroundcolor at the end! (here: Arial Black, 72 px and Blue[#3300CC])
Create your Text (simply click on your document and Type whatever you want). You should have something like this:
The Created Text
Now the fun part starts!
Right-click the Text layer and choose "Blending Options..." Go to "Bevel and Emboss". Change Style to "Outer Bevel" and Depth to "1000%", you can play around with the size because it's from font to font different (here: 7). Then change the Gloss Contour to the Half Round.
Bevel And Emboss Settings
Should look like this now
It looks good already but not good enough, now we paint our background with the same color as the text, it looks much better IMO, but it's only my Opinion :-)
The Result
you can create allot Effects with Bevel and Emboss:
