I have been trying for hours to make this kind of shadow in Photoshop (the red one). Can somebody help me? Notice that there is a gap between the font and the shadow.
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Scott's answer is very good. I would take it just a step further by creating 3 type layers in order to account for the overlap of the white lettering over the green. Check out the triangle of the "A" or the hole of the "P".
Like both answers, but I'd take it a step back :)
I think all this can be done in a single layer with 2 layer styles. Stroke and Drop Shadow. You can play around with the style settings to get the right look.
The advantage of having it in one layer is that it makes editing of your text very easy. If you use multiple layers you would have to edit the text multiple times whenever you need to change the copy.