Here is what I did with the new CF8 image functions. This is actually drawn to the canvas and not just some text.
Here is the code :-
[xml]<cfset myImage=ImageNew("",550,100,"rgb","3366aa")>
<!— Set the drawing color to white. —>
<cfset ImageSetDrawingColor(myImage,"white")>
<!— Turn on antialiasing to improve image quality. —>
<cfset ImageSetAntialiasing(myImage,"on")>
<!— drawing attributes —>
<cfset attr = StructNew()>
<cfset attr.width = 4>
<cfset attr.endcaps = "round">
<cfset attr.lineJoins = "round">
<cfset ImageSetDrawingStroke(myImage,attr)>
<!— draw the C —>
<cfset ImageDrawArc(myImage,10,10,110,80,105,145,"no")>
<!— draw the F —>
<cfset ImageDrawLine(myImage,70,10,70,88)>
<cfset ImageDrawLine(myImage,70,10,120,10)>
<cfset ImageDrawLine(myImage,70,40,120,40)>
<!— == sign —>
<cfset ImageDrawLine(myImage,150,40,190,40)>
<cfset ImageDrawLine(myImage,150,60,190,60)>
<!— C again—>
<cfset ImageDrawArc(myImage,210,10,110,80,105,145,"no")>
<!– O’s —>
<cfset ImageDrawOval(myImage,250,10,90,80,"no")>
<cfset ImageDrawOval(myImage,350,10,90,80,"no")>
<!— L—>
<cfset ImageDrawLine(myImage,450,10,450,90)>
<cfset ImageDrawLine(myImage,450,90,480,90)>
<!— exclamation sign—>
<cfset ImageDrawLine(myImage,510,10,510,80)>
<!— change the width for the dot—>
<cfset attr = StructNew()>
<cfset attr.width = 6>
<cfset attr.endcaps = "round">
<cfset ImageSetDrawingStroke(myImage,attr)>
<cfset ImageDrawPoint(myImage,510,90)>
<!— Display the image in a browser. —>
<cfimage source="#myImage#" action="writeToBrowser">[/xml]