I use GIMP or Paint Shop Pro for things like this (for this I used GIMP :P).

Got two fonts from the internet, one called 'Angelic War' and another called 'Bleeding Cowboys'. I used the latter font to make a big T and and L. Then I used 'Angelic War' to make a bit of text called 'he', 'only one' and 'eft'. Organised them into the pattern up there to say 'The only one Left' all fancy-like, then merged them together into one layer. Then I got the gradient tool and whooshed over it on a separate layer to make a darker blue edge and a lighter, almost white edge. Chose hue as a layer effect and merged it with the text. Used the magical wand and selected everything outside of the text, inverted the selection, grew the selection by about 5 pixels and on a layer under the text, I painted the selection black. You can blur that a bit if you want a smoother edge, but I kept it quite pixelated for added crumbliness.

I.. hope that makes some kind of sense.