Cut out your image and make sure that it is on a white background. If necessary, use your eraser tool to clean up the edges.
Go to Select > Color Range > Shadows
Copy and Paste your shadows and re-select your layer.
Click ALT+Delete and it will make your shadow black.
Name that layers shadows
Repeat for Midtones
FInd words to put over your document. You can use song lyrics, names, etc.
Make you words cover your entire document.
Duplicate your text layer.
On your shadow layer, right click on the icon on your layers and click select pixels and copy them.
Go to your shadow text layer and create a layer mask. Paste your image onto your layer mask. The text is now in the shadows only.
Repeat this for your midtons.