Word Art in Godot

I've discovered the TextServer in Godot, and it enables some neat word effects.

What I did was create a custom Label node, which for each letter:

creates a child node, which draws the letter centered around its origin point
calculates the position, so that drawing-centered-glyphs is aligned with the regular drawing-glyphs-from-top-left

And once that's done, you can scale/move/apply effects on the child glyph nodes without issue.