Open a new document in Photoshop. Fill the background with the dark brown (I’ll go with #282222). Set the default foreground/background colors (black/white) by pressing D on the keyboard. Go to Filter / Texture / Texturizer…
Pick Horizontal Type Tool and write something. Create a new layer (Layer / New / Layer…) and use the Rectangle Tool to draw shapes similar to the picture below. Group these two layers and name it Lines.
Rotate the group with the Edit / Transform / Rotate. Extend the lines to reach the edge of the document.
Create a new layer beneath the white lines layer. Pick the Pen Tool and create paths in between the letters following the lines that separates them. Make sure you’ve closed the path. Right-click on the path and select Make Selection… and click ok. Fill each gap between the letters with the different color. When you finish coloring the gaps, apply the same texture as before.
Select the layer with the white lines, and choose Blending Options… Apply Drop Shadow with these settings. After that, put the text layer above the white lines layer.
Now select the text layer and apply Drop Shadow. Make it a bit stronger then it is on the white lines layer. Create a new a layer above the text layer, pick a white brush and paint over the shadow. Make sure that the text and the lines look like they’re one.
Create a new layer and name it Dirt. Set the blending mode on Color Burn. Go to Filter / Render / Clouds.
Hold the ctrl key and click on the layers with the white lines and the text. That will create selection from those layers. Create a new layer, fill the selection with white and apply the texture as before.
Create a new layer. Select the white lines and the text like in previous step. Go to Filter / Render / Clouds. After that correct the Levels… (Image / Adjustments / Levels…) and add more white color to the clouds.
Now go to Image / Adjustments / Hue/Saturation, check the Colorize box and move sliders so you can get beige color.
After that, it’s up to you to experiment with different things, if you want. I added white frame to it.