It shouldn't be difficult at all if you're familiar with PSP. My notes assume you've used PSP.

1st, make your canvas much wider than you think you'll need
2nd, type your words in the typeface and size that you choose. Be sure to type them on separate layers.
3rd, then convert the layers to raster layers
4th, on a new layer, draw out a rectangle the same height as your words. Fill it with the same color of your text.
5th, copy this layer and move the rectangles to either side of your words.
6th, merge the rectangles and the top word, then merge the rectangles and the 2nd word
7th, use the pick tool to rotate and move the words to your liking