Appearance:
text-shadow: <[shadow-color] || [x-offset] [y-offset] [blur-radius]? ",">
Possible Values:
[Shadow-color]: This uses a color to create the shadow effect and may be placed at the beginning or end of the text-shadow effect syntax (see below.) If no color is specified, the value of the 'color' property is used.
[Shadow-offset]: This is given as a pair of length values indicating x- and y- distances to use as offset references from the original text content. The first value specifies the horizontal distance of the offset (positive values are to the right, negative values to the left.) The second value specifies the vertical distance of the offset (positive values are below, negative values are above.)
[Blur-radius]: A length value indicating the boundary of the blurring for the current text-shadow effect.
Initial Value:
normal
Applies to:
All elements
Inherited:
Yes

This property defines one or more comma-separated shadow effects to be applied to the text content of the current element. Effects consist of a shadow color, a maximum blurring radius for the shadow effect and x/y offset of the shadow effect from the element content. Multiple effects are applied to the element in the order specified in the property. Effects can overlap each other, but they should never overlap the text content.

<blockquote style="text-shadow: black 3px 3px 2px, red -3px -3px">
this blockquote text has a shadow
</blockquote>
would give you the following effect:

this blockquote text has a shadow

MS Explorer v4 and over allows the filter:DropShadow
<element style="filter:progid:DXImageTransform.Microsoft.DropShadow(sProperties)" ... >
AttributeProperty Description
colorColorSets or retrieves the value of the color applied with the filter.
enabledEnabledSets or retrieves a value that indicates whether the filter is enabled.
offXOffXSets or retrieves the value that the drop shadow is offset from the object along the x-axis.
offYOffYSets or retrieves the value that the drop shadow is offset from the object along the y-axis.
positivePositiveSets or retrieves the value that indicates whether the filter creates a drop shadow from the nontransparent pixels of the object.
Color is expressed in #AARRGGBB format, where AA is the alpha opacity hexadecimal value, RR is the red hexadecimal value, GG is the green hexadecimal value, and BB is the blue hexadecimal value. Example

This example uses the Enabled property to change the orientation of an image when the user moves the mouse pointer across one of the image's borders. so, the code

<DIV ID="oFilterDIV" STYLE="position:absolute;
       height:160px;
       padding:10px;
       font:bold 13pt verdana;
       filter:progid:DXImageTransform.Microsoft.dropshadow(OffX=5, OffY=5,Color='#99ffffff', Positive='true')">
This is the DIV content.</div>

Would give the following results:

This is the DIV content.