My first Tutorial so if you dont understand something just ask me, most of this is fairly easy tho...
First off, heres what your going to end up with:


Okay, now that you know what your going to be doing, make a new 400x400 (can be bigger or smaller, I prefer bigger, more room to work)

Press D to reset the swatches and fill the background Black

Next make sure you use a white text with around a 250 pt text size and type anything you want, I used S because its nice and big, so you can see everything.

Now goto Filter>Stylize>Wind>From the left. Repeat this step again but this time go from the Right.



Now goto Image>Rotate Canvas>90° CCW
And use wind once again, From The Right about 2 or 3 times, I used 3.
(Ctrl+F also works for using last used filter)

Then Flip it back Image>Rotate Canvas>90° CW

Now for more filters:
Filter>Distort>Ripple>50%
Filter>Blur>Gaussian Blur>2.0 pixels



And now the magic happens! Go into Image>Mode>Greyscale. Flatten.
Image>Mode>Indexed Color.
Image>Mode>Color Table.
On the drop-down menu select "Black Body" and press OK.
And there you have it, Easy Flaming Text.

Nice. That could be used good for a logo

yah, i actually made my friend a poster with his name spelled like that in a cool font... Printed it over at Kinkos >.>