Here is a great tutorial if you are trying to draw bubble letters on your computer, for a website, log, etc...
Arizona Kate's Bubble Letters
This particular tutorial uses Paint Shop Pro X. It includes a
nice step by step explanation of how to draw bubble letters and then
size them so that they are all the same height.
The tutorial also walks you through how to add a background photo to
sit inside of your bubble letters. Here is an example:

Good luck. Here is the full URL for the Bubble Letters tutorial:
http://arizonakate.com/t120-bubble-letters.html
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