This is for a group I belong to called the Deep See Divers, which is a team working our way through an 18-month course.
In photo-PAINT, I put 3 separate elements together: The hat, the deep sea guy, and the background.
Then I applied the water color effect. This helps hide the fact that the elements were originally from separate places. And, it's a nice effect. :-)
After that, I put the text on top in CorelDRAW. It's just faster in Draw to try various fonts and color combinations. Plus the fonts stay sharp for exporting.