Strikethrough text

I'm not quite sure what you mean with creating a strikethrough font. However, for striking through text horizontally see:

https://stackoverflow.com/questions/2663944/how-to-strike-out-inside-latex-equations

So with the ulem package this becomes:

\usepackage[normalem]{ulem}
\sout{Hello World}

With the soul package this is:

\usepackage{soul}
\st{Hellow world}

The ulem package seems more up to date so I would use that.

There is also the cancel package:

\usepackage{cancel}
...
\cancel{text}

The solution to Diagonal strikeout starting too low and ending too high is another option to consider.

This is for within an equation (I got it off of another forum) and requires amsmath and ulem to be active. The strike is quite long, so using it next to an arrow is troublesome.

\text{\sout{$TEXT$}}