OK, here are the steps to recreate that design in a program as simple as WordPad, keeping in mind that you want to keep it simple.
1. Open WordPad
2. Type the same text that is in your example as shown above.
3. Highlight the text and change the font to Arial Rounded MT Bold in this case, or what ever you like if you don't have that font.
4. With the text still highlighted, change the font size to 110. (You have to type that in yourself since the drop down box only goes to 72.)
5. Now, only highlight the words my friend, and change the font size to 133 to get the same result as in your example.
6. Click on FILE, then PAGE SETUP and change it to Landscape, and also change all the margins to 0.5
7. Highlight all the text and click FORMAT and then PARAGRAPH and change the alignment to Center.
8. Add a space before the word
my to line it up correctly.
9. Highlight all the text and change the color to anything you like besides white.
10. Click FILE and PRINT PREVIEW to see what you have so far.
11. If you like what you see, then print it onto a regular sheet of paper as a test. If you like it still, then print it onto your transfer paper and press it onto a light colored shirt.
If we were not trying to get close to your example, you could have done anything you like except the following...
In WordPad, you cannot change the page color to something other than white, so you can't really play around with white letters to make an opaque transfer sheet for darks. You also cannot change some font formating like the kerning (space between the letters) or the space between the lines of text.
However, you can see that we came pretty close to what you have shown and the program to do it is already on everyones computer. You can do so much more with text (and clipart) if you have WORD.