I\'m trying to figure out how can I achieve something like this:

This
You can embed a UIButton as a custom view inside your UIBarButtonItem. You can create your UIButton however you want, including with an image and text, using -setImage:forState: and -setTitle:forState:.
UIButton* customButton = [UIButton buttonWithType:UIButtonTypeCustom];
[customButton setImage:[UIImage imageNamed:@"image"] forState:UIControlStateNormal];
[customButton setTitle:@"Button" forState:UIControlStateNormal];
[customButton sizeToFit];
UIBarButtonItem* customBarButtonItem = [[UIBarButtonItem alloc] initWithCustomView:customButton];
self.navigationItem.leftBarButtonItem = customBarButtonItem; // or self.navigationItem.rightBarButtonItem
Note that when doing this, you'll need to attach your IBAction methods to customButton, not to customBarButtonItem.
For more info, see the documentation for initWithCustomView:.
You can also do all of this in interface builder just by dragging a UIButton to the left bar button/right bar button slot on a navigation bar.