1. We're gonna start off by creating a new document (CTRL + N). I made this one 500x100px. Add a new text layer. Now if you're smart you'll choose a bold font, because thin small will be hard to read once you "outlined" them. I used Arial Black, 36pt.
2. Now go to Blending Options (Right-click on text layer) Turn the "fill opacity" down to 0%. The text should have disappeared.
3. Select Stroke form the list (still in the blending options menu).
Size: 2 pixels, Fill Type: Color. Then pick a color you think would be
good for the outline and Voila!