I'd like to recommend Text2Curve component for this:
http://gousable.com/flash/text2curve.html

It has a lot of advantages over "TextOnCircle"   Weyert mentioned:
- can place text along ellipse or sine, not only circle
- more methods to manipulate this text
- can be used in Flash IDE, even rotated/distorted there.
- some more :-)

Recently version 1.6 was released with more useful features.

BTW, reminding some recent threads in this list:
- it manages to evenly distribute objects (letters) along the ellipse
- starting point can be moved (along the ellipse) at any distance.


==============
Quotation:
==============
=== New in version 1.6 (see samples 6 and 7):
- Center Text parameter allows text to be centered by the top or bottom point 
of the curve (round or ellipse). 
- Letter Spacing parameter adds some more space between letters (in pixels). 
- Start Point parameter allows you to change the distance along the curve (in 
pixels) from 0 point (marked with cross) to the first letter. Some kind of 
indent.
- Some properties added to access via Actionscript
- Updated help system

=== Description:
Text2Curve Flash component allows you to place dynamic text along one of 
pre-defined curves.
Unlike similar tools in programs as Illustrator, CorelDRAW or Freehand, it 
allows doing this dynamically, e.g. as a movie is playing.
Text along the curve (circle, ellipse, wave and so on) is broadly used by 
designers to create artistic effects.

Can be used as a component in Flash MX 2004 or later. 
Resulting movie require Flash Player 7 or later.

The package contains complete Help system with API documentation and samples.

=== Features: 
- Place dynamic text along one of pre-defined curves. Broad range of parameters 
can approximate almost any curve you need. 
- This text remains dynamic and can be changed at runtime. 
- Use your favorite font (just embed it). 
- Interactive Live Preview. Edit Text2Curve component in Flash IDE like any 
other movie clip. No programming needed. 
- Using class constructor, you can create Text2Curve objects from scratch at 
runtime with Actionscript. 
- Scale, rotate and distort text along the curve in Flash IDE or at runtime via 
Actionscript. 
- Animate text along the curve either with timeline-based motioin tween or 
Actionscript. 
- Help system with illustrations and API documentation.
 
You can also dynamically: 
- Change text to be shown;
- Change text or curve's parameters 
and then update the view using redraw() method. 


-- 
Best regards,
 GregoryN                        
================================
http://GOusable.com
Flash components development.
Usability services.

>  ---------- Umesh Patel wrote:
> I have following question.
> 
> I saw nike's unifrm builder, Nike Uniform
> Builder(http://www.niketeam.com/v2/new/Sport...T=BBM&CAT=UNI), they built 
> uniform
> generator using Flash, the only thing wondering me is, how did they manage to 
> arch
> the text, if anybody has any clue then I would be very happy to see little 
> bit of
> action scripting. 
> 
> I want different arching with click of a button or something like that, I am
> attaching a sample of arching that I am looking for!
> 
>  If anybody figures it out..... thanks,
> 
> Umesh Patel
> 
> 
> 
> 
> --------- Weyert de Boer wrote:
> 
> I have asked a friend of mine, and he came up with this code and example:
> http://richardleggett.co.uk/downloads/flash/StringWidth/


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