How do I make floating words?

I saw this on a Minecraft server, and would like to replicate it. Is this redstone? What is going on to achieve this floating text?

Here is an image.

enter image description here

Best Answer

In versions after 1.6, the {color:"dark_red"} things don't work very well.

The only way to make them colored is either MCEdit or The Plugin "Holographic Displays" which I use on my server and so does my brother.

Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.