These postcards are hand drawn and that’s still the best way to achieve the look. You can fake the effect by starting with a simple sans typeface and use software (Illustrator filters, Type Twister) to shape the type. But it will look fake.

Leslie Cabarga’s books are great for learning how to create special effects in and around type. Depending on how detailed and refined you want the final design, it’s not really too hard, but as Stephen suggests, can look fake. With a little extra work it can look fine.

Here’s a quickie... 12 minutes to execute including image/photo fills. It uses only the most basic menu commands in Photoshop 7.0 without touching or tuning type outlines.

So are you guys trying to tell me that any bold typeface will work?

Mar, Bum.

edit: actually it looks like a Bold Art Deco dont you think?

A bold type face is just the beginning. Those postcards were done by one company and were hand drawn. I would start with a bold typeface and make the dimentional type by tracing it and working it by hand in illustrator.