yes, its very much possible, you are going to follow the same technique as we do while generating a captcha image.
Requirement: GD library should be enabled in your php.
Code (taken from php help file 😉
<?php
// Set the content-type
header('Content-type: image/png');
// Create the image
$im = imagecreatetruecolor(400, 30);
// Create some colors
$white = imagecolorallocate($im, 255, 255, 255);
$grey = imagecolorallocate($im, 128, 128, 128);
$black = imagecolorallocate($im, 0, 0, 0);
imagefilledrectangle($im, 0, 0, 399, 29, $white);
// The text to draw
$text="Testing...";
// Replace path by your own font path
$font="arial.ttf";
// Add some shadow to the text
imagettftext($im, 20, 0, 11, 21, $grey, $font, $text);
// Add the text
imagettftext($im, 20, 0, 10, 20, $black, $font, $text);
// Using imagepng() results in clearer text compared with imagejpeg()
imagepng($im);
imagedestroy($im);
?>