For my purposes, I need an actual font that other Windows applications can recognize. If all you want is a word banner, then yea, a vector-based photoeditor is probably the way to go.
Paint.net is an often-used one
http://paint.net.amihotornot.com.au/I use DrawPlus quite a bit. There is a free version of it:
http://www.serif.com...hic-design-software/(Here are some icons I made with DrawPlus, and an app called RealWorld Icon Editor
https://www.xyplorer....php?f=3&t=11635 )
Probably the most powerful freebie is the GIMP
http://www.gimp.org/ It's more like Photoshop then a vector editor though....
Other fun things to check out:
TileMage allows you to make individual letters in bulk, then "chop up" the exported picture.
http://www.tilemage.50webs.com/I use this
http://patorjk.com/text-color-fader/ for colorizing my Outlook email signatures.
EDIT: Also:
http://www.picturetopeople.org/ for making banners!!!