To access the shape tool, press U on your keyboard or find it in your Toolbar. The choice is yours! For the sake of example, I’ll be putting my text onto a rectangle shape.ĭraw your shape using the Shape Tool in Photoshop. The effect can be done with any shape or with a solid color fill layer. This method only requires two layers and makes a transparent outline of the text within your shape. The first method is creating transparent text within a solid shape. 4 Ways To Create Transparent Text In Photoshop #1.