documentclass{article}

% Load the three layers of the LTC Goudy Initials font
usepackage{fontspec}
newfontfacefirstlayer{LTCGoudyInitNew.otf}
newfontfacesecondlayer{LTCGoudyInitFlora.otf}
newfontfacethirdlayer{LTCGoudyInitFill.otf}

% Create a command to print all three layers - later in color
newcommand{initialmaker}[1]{%
  firstlayer{#1}%
  llap{secondlayer{#1}}%
  llap{thirdlayer{#1}}%
}

usepackage{lettrine,lipsum}
setcounter{DefaultLines}{5}
renewcommand{LettrineFont}{initialmaker}

begin{document}
lettrine{H}{ello world}
lipsum[4]

lipsum[3]
end{document}