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Go here:

http://pathinds50.com/paradigm_tutorials/pituts.html

and scroll to the bottom.

And another here that is not listed on my web page:
...

Or....simply copy your image to the clipboard (right-click, copy), then make your text active and go to Edit, paste and use one of the options there such as Into Selection, Fit into Selection or...

Whoa, Jerry! That is fantastic!

Maybe I need to start hanging out in here more....

Grafixman is on the right track...

Go to Edit/Fadeout.At the bottom of the pop-up box, click in the box that says Multicolor. This will bring up the Palette Ramp editor. Choose the first box, 01,...