
In this tutorial, I will teach you how to create the tag above.
Step1: Setting up work space.
Create a new image using the dimension 800 x 600. Set the background color to white, this can change depending on where you want to place the Tag. Create a new layer, Layer
New
Layer... (Shift+Ctrl+N).
Step2: Creating the tag.
First turn the grid, smart guides on, click on View
Show and check the grid and smart guides. Also make sure Snap is checked. This will make it easer to create the tag. Using the Rectangular Marquee Tool
create the rectangle using the setting shown below.
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With that create the rectangle shown below and fill it using this color #fae5c8

If you can try and position the rectangle as shown above. You will see why soon.
Now we need to cut the top of the rectangle to give it the effect of a tag. Using the Polygonal Lasso Tool
cut the top part of the image off as shown below.

With the snap and grid on you will be able to do this with ease. After that you can turn off the grid. With that you should have the image below.

Create a new layer, Layer
New
Layer... (Shift+Ctrl+N). Click on the Elliptical Marquee Tool
and create a circle using the dimension below.
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Fill
the circle using this color #926047, With that you should have the effect below after positioning it.

Now right click on the Circle layer as shown below, click Blending Options, and add the setting below.

Drop Shadow
Click Ok when you are finished
Create a new layer, Layer
New
Layer... (Shift+Ctrl+N). Click on the Elliptical Marquee Tool
and create a circle using the dimension below.
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Fill
the circle using this color #FFFFFF, With that you should have the effect below after positioning it. This color (#FFFFFF) will change depending on your background color. With that you should have the effect shown below.

Step2: Creating the String.
To create the string we will use the pen tool. Create a new layer, Layer
New
Layer and name is String Layer (Shift+Ctrl+N) . Click on the Brush Tool
make sure the brush color is black set the brush size to 2 Pixels.
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Click on the Pen Tool
using the setting below and draw the path shown.
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Zoom into your image to get a better view of what to do.

With the Pen Tool
selected right click on the selection, click Stroke Path using the brush and the "Stroke Path".

After adding the Stroke Path With the Pen Tool
selected right click on the selection and click Delete Path. With that you should have the effect below.

The string can be as simple or complicated as you want, its just up to you. Still on the String layer and click on the Eraser Tool
using the setting below.
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Erase a part of the string shown below.

Now right click on the String layer as shown below, click Blending Options, and add the setting below. Click 
With that you should have the image below.

Finished:
Well that is it, hope it came out to what you expected. I also created a video tutorial for this example. The file is a 5.12 MB flash file. I have the link up on the video section on the forums. Users have to register to view the file, click here to register and view file. If you have any question or comment about this tutorial, feel free to post a message on the forum.

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