These guys are better than I am but I did do a slider once............... masked it all off by hand.
The idea is to have the computer copy your photo of the logo, re-size then print it on vinyl and punch out the sections you select.
7-up is probably the most difficult of all with 3 colors, but here's how I did it:
Paint the orange section first. Use the template to mask off the orange, then paint the cooler white.
The black shadows can be done last, and they're are pretty easy to do with fine masking tape.