Drop Shadow
STEP 1
Open a new file in photoshop, any size, anything at all. It doesn't have to be text, but that's what I'm using. If you're using text, get it how you want and then click on Layer- Rasterize- Type.
STEP 2
Make sure your layers palette is open (if it isn't go to Window- Show Layers). Double click on the layer with the text or image on it you want to add a drop shadow to. A window should pop up.
STEP 3
Click on Drop Shadow. The default settings aren't that great, so if you want, you can match it to the settings I used. Click ok. Done!
