how do i turn text into a manipulatable object?
In the 3D window, press space to Add->Text. see http://mediawiki.blender.org/index.php/Manual/Text. You can spin it, stretch it, color it, make in follow a curve or a path, just about anything.
well i mean how do i end the typing part of it in edit mode and extrude it and things of that nature
alt+c …choose mesh
Just Tab out of Edit mode into Object mode like with all other Objects. Now you can Grab, Scale and Rotate. If you now Add another Text Object it’ll be in Edit mode as default (again like all other objs) but will be a seperate Object from the first.