Photoshop Ice Text 'Icicle' Effect

Learn how to make your text look like it's icy in Photoshop with this cool 'icicle' effect. Here, we'll be going over the basics on how to make this ice text 'icicle' text effect. It's rather simple and gives a nice effect.
1) You're going to want to start with a black background. You can change this later on to a green, blue or grey background, but since you need to have white text, it's much easier to use a black background initially.
2) Find a nice looking font and type whatever you want the text to be.
3) Rasterize the type then smudge the edges down as shown (using the smudge tool).

4) Go to layers and you will see the 'create a new fill or adjustment' button, which is a half black half white circle. Press it and select 'Color Balance'

5) Depending on your version of photoshop, you may come up with different dialog boxes. Basically, you'll need to go through shadows, mid tones, and highlights. I usually turn magenta towards green, red towards cyan, and yellow towards blue.

On the far left, those are the dialog boxes that come up for CS3. On the left, it's the dialog box that pops up for CS5.

Have fun with your new ice text! Below are some examples of what I made using this effect.

There is an image version available for this tutorial here.