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That is a font, there is probably no drop-shadow involved. These are typically called woodcut fonts and many have the word "wood" in their font names ("Cottonwood" etc. but this is really just an author preference). Another possibility is "arabesque".
If you want to know how they got the lace effect, they probably made a layer with lace, created a white layer on top of that, and then applied the type to a layer mask so that the black portions of the text knocked out the white layer allowing the lace layer to show through.
arabesque font and
photoshop type mask and/or
photoshop layer mask for more information.
Typeface: Rosewood. 3 masks: the outer silhouette, the black portions of the type, and the inner white portions of the type.
White masked portion receives a gradient, blue to white, and a lace overlay in pink. Black masked portion receives a solid blue, and a lace overlay in pink. additional black portion mask with a 2px stroke on top of all. Sillhouette mask to knock out to white.
You can create this font by your self but it will take a good amount of time and you have to have good knowledge of patterns, shadow Photoshop etc.
I would suggest if the motto is to get this font only you can get this here its rosewood font and if you want to know how to get this effect please see horito's share....