Cutout

Cutout is an effect in PSP that I like to use on text.

Step 1

Add your text. Make sure your settings are Floating and not Vector in the tool options.

Step 2

Go to Effects > 3D Effects > Cutout and make your settings like mine. The fill interior color should be the same as the color of your text, and the shadow color should be a lighter color than the one you used for the text. If you want, you can make the cutout effect at the opposite corner by changing the vertical and horizontal offset to -2 and making the shadow color darker than your interior fill color.

If you want to add a border, go to Selections > Modify > Expand and make a 2 or 3 pixel border. Then press Ctrl+C and Ctrl+V to copy and paste as a new image. Save and you're done :) Here's what mine looks like: