Draw a letter, take a picture of the sketch and place it into your Photoshop document.
Use the Pen tool to create the lettering shapes and fill them with color.
To add a shadow to the top part of your letter, double-click its layer in the Layer panel and choose Drop Shadow. Adjust the settings to achieve the desired effect. Uncheck the Use Global Light checkbox.
Add Inner Shadow to the center part of your letter.
Repeat Step 2
To edit the shadow separately from the fill layer, go to Layer > Layer Style and choose Create Layer. In the Layer panel you’ll now have two layers: a shape layer and a Drop Shadow layer.
Use the Eraser tool to remove parts of the shadow. Next, let’s create a grainy paper texture. Make a new layer and fill it with grey color. Then go to Filter > Noise > Add Noise.
To add a paper texture feel to your image, choose Soft Light in the Layer panel.
Turning sketches into vector shapes with Adobe Capture CC and using them in other Adobe applications > link
Working with type in Photoshop and getting fonts from Typekit > link