1. New Document 350x350 fill it with black
2. Type your text and center it
3. Right click the text layer and select rasterize layer
4. Edit > Transform > Rotate 90° CW
5. Filter > Stylize > Wind from the left
6. Repeat step 5 till you have the amount of flame you want
7. Edit > Transform > Rotate 90° CCW
8. Filter > Blur > Gaussian Blur
9. Filter > Distort > Ripple
10. Layer > Flatten Image
11. Image > Mode > Grayscale (hit ok to discard color info)
Image > Mode > Indexed Color
Image > Mode > Color Table... Table: Black Body
Image > Mode > RGB Color
12. Retype the text and place it over the original but make the text color black this time
13. Layer > Flatten Image
14. Duplicate the layer then Filter > Blur > Motion Blur
15. Set blending mode to "Hue" and opacity to 90% ctrl+U to colorize and your done
My Final:







More Photoshop: