Help with photoshop editing and such?

Okay I am making a logo/banner pic for my myspace, for the default display pic. I wan to put text and some other things, but I ONLY want text and those to show up, I don't want ANY white background, so it will mesh in with the background of my myspace.. I see there is a background eraser tool, any other things I need to use?
 
text will be on it's own layer...just delet the background layer (lower right of screen) and you will see a checkerboard background behind the text...that mean its only the text. hope that makes sense to you
 
Okay, go to File > New > Put the pixels in > Background contents > Transparent, it will show up as a checkerboard but will be transparent on Myspace.

But there's different ways of doing it, the answer above is probably actually easier ;)
 
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