> The example allocates an SDL_Surface large enough to fit the text string each iteration.

Impossible without knowing how much to allocate, which you indicate would require adding a bunch of complexity. However, I am willing to chalk that up to being a typo. Given that we are now calculating how much to allocate on each iteration, where is the meaningful complexity? I see almost no difference between:

    while (next()) {
        size_t size = measure_text(t);
        void *p = malloc(size);
        draw_text(p, t);
        free(p);
    }

    void *p = NULL;
    while (next()) {
        size_t size = measure_text(t);
        void *p = galloc(p, size);
        draw_text(p, t);
    }
    free(p);

I think I've been successfully nerd sniped.

It might be preferable to create a font atlas and just allocate printable ASCII characters as a spritesheet (a single SDL_Texture* reference and an array of rects.) Rather than allocating a texture for each string, you just iterate the string and blit the characters, no new allocations necessary.

If you need something more complex, with kerning and the like, the current version of SDL_TTF can create font atlases for various backends.