This looks like it came from ITC magazine - years ago - and was based on their Avant Garde font.

BTW - more like this (and this one) can be found on Smashing magazine's site: http://www.smashingmagazine.com/2008/10/26/retro-and-vintage-typography-showcase/

But I suggest you look here: http://talent.adweek.com/gallery/Love-For-Retro-Typography/7471529
Seems they show step by step....