To begin open your image
create a new layer by going Layer> New> Layer.
On this layer you will place the type by choosing a font and typing the words of the phrase you want to wrap.
select a font in Photoshop go Window> Character. In the palette you'll see a list of your installed fonts. Make sure to tweak the settings so that the spacing and size and color are all appropriate
Bend That Text
-22 to be very close to the shape of the curve of the cup's lip