
This is pretty cool looking. I thought it looked like a kite, with the "strings" dangling below it. Here's how to make it:
- Type your text, then deselect it. Rotate (Image, Rotate) the whole graphic 90 degrees to the Left.

- Apply a Wind Deformation (Image, Deformations, Wind) from the left with the strength of 20.

- Rotate (Image, Rotate) the image back to the Right at 90 Degrees.

- Now type your text again in the same place you typed it the first time. Deselect it.

- Click the Selection Tool on the left with the Selection type as Rectangle. Place a box around the blur at the bottom of the text. It helps if you Zoom in (Click the Zoom button on the left, and click on the graphic).

- Add a Vertical Perspective (Images, Deformations, Perspective, Vertical) with the difference of 100.