Is it possible to get cut out text effect like this using CSS/CSS3 only?

Question

Is it possible to get cut out text effect like this using CSS/CSS3 only? or image is the only option to get this effect.

Answer 1

I found this http://jsfiddle.net/NeqCC/

It supports white background and dark text

All credit goes to the creator

HTML

Inset text-shadow trick

CSS

body {
    /* This has to be same as the text-shadows below */
    background: #def;
}
h1 {
    font-family: Helvetica, Arial, sans-serif;
    font-weight: bold;
    font-size: 6em;
    line-height: 1em;
}
.inset-text {
    /* Shadows are visible under slightly transparent text color */
    color: rgba(10,60,150, 0.8);
    text-shadow: 1px 4px 6px #def, 0 0 0 #000, 1px 4px 6px #def;
}
/* Don't show shadows when selecting text */
::-moz-selection { background: #5af; color: #fff; text-shadow: none; }
::selection { background: #5af; color: #fff; text-shadow: none; }