Seamless fill textures for your letters. You can download the ones I've used here.
Step 1. Open up a new image approximately 350 x 350, white background.
Step 2. You're going to draw each of the letters from scratch. We'll do the "L" first.
Choose your pen tool, using the settings in the screenshot.
Add a new layer. Set your foreground fill to a color or texture of your choice (set background to null). I've used the "01lovefill" for mine. Draw the vertical part of the L.
Add a new layer and place it underneath the last layer. Change the fill to "02lovefill" and draw the horizontal part of the L. Align it so edges are even.
Hide all layers except your two "L" pieces. Merge visible layers. Turn all layers back on.
If you wish, you can leave it this way. I decided to rotate my word. To do that, just choose your deformation tool and rotate it into position you like.
Step 3. Add a new layer. Set background to null, foreground color to the "03lovefill" pattern (set scale to about 50). Choose your preset shapes tool> heart shape. Draw a heart for your "O." Use your deformation tool to rotate into place.
Step 4. Add a new layer. Set background to null, foreground to the "04lovefill" pattern (scale 100). Choose your pen tool (same settings as before). Draw a line for the left side of your "V." Use your deformation tool to rotate it. Copy it (edit>copy). Paste as a new selection (edit>paste as new selection). Mirror it (edit>mirror). Move into place on the right side.
Hide all layers except the V pieces. Merge visible layers. Use your deformation tool to rotate into place as you wish.
Step 5. Turn all layers back on. Add a new layer. Set background to the "05lovefill" pattern. Choose your pen tool again and draw lines for your "E." Hide all layers except the E pieces and merge visible layers. Use your deformation tool to rotate into place as you wish.
Turn all layers back on.
Step 6. Now that all your letters are done, you can play with them to arrange into something you like. Feel free to move layers, rotate letters, etc. I've also added an inner bevel to mine, and if you wish to do that, here are the settings I've used:
Here are my letters so far (and we're almost done).
Step 7. Now to add the little heart baloons. Add a new layer. Place it underneath all of your letter layers. Set foreground to #e64870, background null. Choose your pen tool, same settings as before (except change the width to about 4, and the style to freehand line). Draw some strings for your baloons. I've drawn me under the "V" but you could draw them anywhere you like.
Add a new layer. Set foreground to null, background to #e64870. Choose your preset shapes tool>heart. Draw a little heart at the end of one of your strings. Use your deformation tool to rotate into place. Repeat for as many hearts as you want.
Apply inner bevel (same settings as before).
Step 8. I decided to add drop shadows to all of my pieces, but that's optional. To do so, use these settings:
Step 9. Now turn off your background layer and merge visible layers. Save in whatever format you prefer (I always save in PSP format).
I've added some background to my finished image, just using the fills used for the letters and a layer of small pale hearts on yellow. Feel free to get creative!
And that's it, all done. See, told ya it was easy *grin*. Have fun!