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Pebble Text
http://www.photoshop101.com/articles/14/1/Pebble-Text/Page1.html
Sam Lee

The traveller who wants to see the world.

 
By Sam Lee
Published on January 3, 2008
 
A sassy, pebble text effect with a slight touch of a pearl finish.  This is a very flexible tutorial that can be adapted to suit different requirements.

Type text using a nice font.



From "Filter" menu select "Texture>>Stained Glass". Apply settings as shown.




 
Select magic wand tool and click on the white area. Right click and click "select similar". This will select all the white color in layer. From select menu select modify>>contract. Contract the selection by 2 pixel.  



Hide the layer. From select menu select Modify>>Smooth. Smooth the selection by 2 pixel.



Create a nw layer and fill the selection with white color.



Double click the layer to open layer style window. Apply settings as shown.







Here is the result of your hard labor.