I decided that it would look best to have the text wrap around the bottle!
To do this, I tricked the laser into thinking that the work piece was much larger than it actually was (the real circumference of the bottle I used was around 9"). The size you choose for your canvas is going to depend on how large your text/image is, and how much you want it to wrap around the piece. I think I rotated the text somewhere between 5 and 10 degrees to get it to look the way I wanted. And that's it! worked like a charm!
I made it at Techshop using the 45W Epilog Helix and rotary attachment!