Ctrl+Click the layer thumbnail to get the selection. Press Q to enable quick mask. From "Filter" menu select "Artistic>>Plastic Wrap ". Apply settings as shown.
Press Q again to disable quick mask. Create a new layer and fill it with any color. Ctrl click the original text layer. Press Ctrl+Shift+I to inverse the selection. Press Delete.
Double click the layer to open layer style window. Apply settings as shown.
From layer menu select layer style>>create layers. Select and merge all the resulting layers. From "Filter" menu select "Noise>>Add Noise ". Apply settings as shown.
Double click the layer to open layer style window. Apply settings as shown.
From "Filter" menu select "Render>>Lighting Effects". Apply settings as shown.
