Make an adequate sized image, mine was 150x50 pixels. I typed some text in, and centered it.

Save the layer, select All (Ctrl-A), and copy it (Ctrl-C). Now deselect (Ctrl-D) and uncheck 'Preserve Transparency' in the layers menu. Go to Edit> Stroke, check the box Outside, and make the width 3.

Your image should look like this now. Run a Gaussian Blur on it, radius of 4. Filter> Blur> Gaussian Blur.

Now Paste(Ctrl-V) the layer that you saved earlier, on top of this one. Put it directly on top of it. Just do it over with a new color of text if you want another color.