It was done with javascript.
<script type="text/javascript" src="https://www.blinklist.com/HandySolo/cloud.js&logo=0&title=Most popular BlinkList Tags&fontsize=10&cloudsize=100&fontcolor=23598C&colorbegin=409FCF&colorend=FF6600"></script>
You might also try following method if you know the color-codes:
<span>H<span>E<span>L<span>L<span>O</span></span></span></span></span>
with this stylesheet
span {color:black}
span span {color:darkgrey}
span span span {color:grey}
span span span span {color:lightgrey}
span span span span span {color:white}
(Why this way and not an end-tag after each letter? Then you don’t have to specify an id to each span-tag what results in a cleaner html code itself but messes up the css a bit)