Final image

Step 1

Take the picture of wooden plate.

Step 2

Type text with TYPE TOOL. In this case we type WATER and DROP words with different's fonts.

Step 3

Make a new LAYER.

Step 4

Draw some shapes with PEN TOOL. You can draw all over the picture, exept over text layer.

Step 5

When finish with drawing shapes, put cursor into one shape. Click right mouse button and select Make Selection.

Step 6

Color new Shape Layer with Paint Bucket Tool.

Step 7

After this steps, select text, press ctrl+T. You'll get option Free Transform. Use this to rotate text.

Step 8

Now we going to finish effect. Go to Layer>Layer Style>Blending Options>Drop Shadow. Set effect as in picture below.

Step 9

Next step is: Layer>Layer Style>Blending Options>Bevel and Emboss. Set effect as in picture below.

Step 10

Go to Layer>Layer Style>Copy Layer Style. Then select other layers and go to Layer>Layer Style>Paste Layer Style. Make the same effect to all Layers.

Step 11

Very easy tutorial to make water. Congratulation.