I'm going from this and this to , using screencaps from Danny Phantom: The Ultimate Enemy.
1) Resize the first listed image (so that the height is 100 pixels) and place it on a canvas (or make it the bottom layer. It's all up to you).
2) Place the other picture on top of the other one as a new layer (no resizing was done). Set it to lighten at 33%.
3) Duplicate layer 1 and drag it to the top. Set it to lighten at 100%.
4) New layer on top. fill it with #FF0000 (R: 255). Set it to hue at 100%.
5) Another new layer on top filled with the same color (#FF0000 [R: 255]). Set this layer to soft light at 58%.
6) Duplicate layer 1 and drag it to the top. Set it to darken at 100%.
*The following is optional*
7) Now, on to text. I used the font "ernest" (available at dafont.com) at 10 pixels size and color #FFFFFF (in other words...white.). I thought that the phrase "unrecogniseable" fit nicely.
8) To get the thin black border around the letters, I add an outer glow to the text layer (for those with limited Photoshop knowledge, I held the control button and clicked on the text layer on the layer sidebar. I go to "blending options", and then click on "outer glow" [the phrase, not just the check, so that it takes me to the menu]). I set the blend mode to normal, the opacity to 100%, the spread to 100%, and the size to 1 pixel. Use whatever color you'd like ^_^
And so...there you go! If you actually make something with this tutorial, please show me!