1. open a new image 500x200
   resolution 72
   background color white
   16.7 million colors

2. (the active color boxes)
   set foreground color to a medium brown & and background color to white

3. choose the text tool and set the options to:
   Arial Black
   size 72
   check mark Create as Selection and Antialias
   and type in a short word (5-6 letters)

4. select the paintbrush tool
   click the paint brush options tab (second one) and set paper texture to Woodgrain
   and, on the normal options tab set:
   Shape: Round
   Brush Options: Normal
   Size: 200
   Opacity: 100
   Hardness: 50
   Density: 100
   Step: 25

5. Move the mouse pointer to the left of the text and, while holding down the left mouse button, sweep the mouse over the text and back again. You should get a good covering of paint showing on just the lettering

6. Choose Selections (from the top menubar)
   Modify
   Feather - set to a value of 5

7. Swap the active colors (click the double headed arrow by the active color boxes)

8. Choose Image (the top menubar).... Other.... Hot Wax Coating

9. You're done, unless you want to add a bit of drop shadow for added 3D effect

First result at right (outer border added)
at left with a bit of drop shadow added