Create a path using path tool
Type your text using text tool
Style your text accordingly. Please note that you can't change the style of your text once you make it follow a path. Finalize your text style before moving to step 4, or you might have to start over from step 3 again
On the text tool, click on 'Text along path'
Now, from path tool, select 'Path to selection'
Create a new layer. In paths dialog box, hide the path so you can see a sharp selection around the path. Also hide/delete the text layer since we're not going to need it anymore
Fill the new layer with any colour you like. Here i use full spectrum gradient
We're basically done. Here's how your text is going to look like
You can play around to give your text a better look. If you need to change your text style, start again from step 3
See you again in the next tutorial :)