For this tut you'll need:

A Kewl Font
BlackBox
PSP
Snow Filter

Open PSP and create a new image with these settings:

Now add some text to your new image, I used these settings:

I am going to add an effect with the Blackbox Filter now. Go to effects, plugin filters,
Alien Skin, Carve 2.0 and use these settings:

Make sure you have your layer palette active. You will see that your text-layer

is floating now. Right-click on and chose 'defloat'
Also deselect your text, Ctrl + D (tsssss, don't know why I used all those settings when applying the
text !!!!!!!!! LOL)

Now go to layers, duplicate.

Activate your first layer (Layer 1) and now go to effects, plugin filters, unplugged effects,
snow and use an amount of 81.

Now activate your second layer (Copy of Layer 1) and select the eraser tool.
With these settings:

Now delete part of the text where you want the snow to show.
After you've done that, go to layers, merge, merge visible.

Now you can copy this text into your tag as a new selection and
place it where you want :-)

Hugs,

(this is my end-result. I added a drop shadow too)