This is an example of what I mean by outline font:
I would like to make an outlined version of Gotham using Photoshop.
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While you can just add an outline, that is not the preferred way to do it. The preferred way is:
The reason for this method is that is perfectly preserves the shape of the letterforms that the original type designer created. It also prevents thin areas from becoming filled in or serifs closing up and the like.
If the outline is thin, just adding a stroke is usually fine, but for medium to thick outlines, you want to use this method instead.
Just add an outline to the font, or, better still do it in illustrator and create an outline.
If you actually want to create a font file you can use like any other font, Photoshop won’t help you, because that’s not its purpose. However, but most font-creation programs should do.
In particular in FontForge (which is free), the following should do what you want:
Be careful with distributing the altered font though, as this may be a copyright infringement.