1 Open a new canvas.

File >> New >> Adjust the size of your canvas based on your preference. (Optional: you can change your canvas background color) 

2. Using the Text Tool, put a text your canvas. (Note: I'm going to use the same text from the previous tutorial) 

3. On your text layer. Right Click >> Blending Options 

3.1 Check the  

3.2 Click the color >> select the color you want to use >> Ok >> Ok (Note: I used color white for this tutorial)

4. You're done! Here's the output:

A/N: If you want to outline your extracted image, the steps/instruction is the same.