
1. Take a new file with any size(width=300, height=200).
2. Fill the background layer with black color.
3. Type a text like "MUMMY" and select color=#FF9C00.
4. Take a new layer, link it with text layer. Then merge both of them. Apply Filter/Sketch/Torn Edges as shown image.

5. Apply blending option as shown in the image.

6. In the new layer apply Filter/Render/Clouds with the fill having #FF9C00 color. Then apply blending option "Color" on the top of the layer palette.

7. Make a random stripes in the new layer with Marquee tool and apply Filter/Blur/Radial Blur.. with settings Amount=100, Zoom, Best selected. Take "Linear Dodge" in a blending mode on the top of the layer palette.
8. Fill #ff9c00 in the new layer with "Multiply" as a blending mode of layer palette.
9. Its over.
Thanks