How do I crete this Glassy text effect?

[David Hammond]

Type the text in Photoshop, and you can use the styles box, it might be a default, I know in CS5 there are a number of pre-sets you can load into it.

[Chris Windebank]

do a search for alien skin, does all that and more as a plug in

[stuart clarkson]

you could try using 3d software, this was rendered in carrarra

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[Frank Conway]

Here is a cool tutorial on tuts plus: http://psd.tutsplus.com/tutorials/text-effects-tutorials/transparent-glass-lettering-in-photoshop/ 🙂