You are going to want to use padding and display:inline-block;
on a span
element in order to do this. For example:
HTML
<span>GHOST</span>
CSS
span {
padding: 10px;
border: 10px solid white;
display: inline-block;
}
This will allow the border around the text to shrink and grow depending on the length. It will also keep 10px of space between the border and the letters no matter the size.
Here is a fiddle: http://jsfiddle.net/ZDzn2/