I want to make an effect like this:
How can I achieve this?
The thing I'm stuck is the striped border. I want to know how to make it in Photoshop and Illustrator.
For Adobe Illustrator.
Set your text.
In the Appearance Panel click the "New Fill" button on the bottom of the panel. This will add a new fill and stroke to the text object (1 & 2).
Click and drag the Characters item in the Appearance Panel so it is above this new fill and stroke.
Highlight the stroke item in the Appearance Panel. Add a black (or any color) stroke and then choose Effect > Path > Offset Path (3). Insert the value you want your dashed line to be offset from the text. Don't worry about the overlapping lines you'll see. Those will be corrected in a second.
Now, highlight the Fill item in the Appearance Panel. Ensure the Fill is listed above the stroke on the Appearance Panel (1 & 2). Add a white fill (or any other color you wish). And again choose Effect > Path > Offset Path and enter the same value you used for the stroke (3).
Now, highlight the Stroke item on the Appearance Panel again and adjust the stroke (4). Tick the Dashed Line option and enter an initial value fo the dash. The default is 12 points, but you may wish to reduce that. There's no need to fill in the other gap and dash items.
There you go.....
Remember to drag the final text to the Graphic Styles Panel so next time you need it, you can simply select the text with the Selection Tool and click the Style.
I found a neat video tutorial that goes over how to do this in Photoshop CS6. As far as I'm aware this is not available in any prior version. In the past you had to follow some more work intensive methods.
You can do this with text as well, though I only know how to do it if you turn the text into outlines (right-click >> create outlines)
Then go to Object >> Path >> Offset path
Ungroup the objects and adjust the stroke of the outermost shape to be dashed.