Adobe Photoshop / Smokey Effect
- Create a new layer and fill it with black
- Type text on top and duplicate it
- Select the lower text layer and rasterized it
- Filter > Distort > Wave - Number of Generators: 5, Wavelength: Min.10, Max.250, Amplitude: Min.5, Max.35, Scale: Horiz.10%, Vert.10%, Type: Sine, Undefined Areas: Repeat Edge Pixels
- Repeat the previous step until it looks smokey while occasionally erasing off the edge with Eraser Tool - Opacity: 25%, Flow: 50%
- Change the text color of the top layer