Folded ribbon
 
 
 
 
 
1.) Open a new image 800 x 400
 
2.) Grab your preset shape tool rectangle
make a small rectange about 2 inches long
(you can also use existing ribbon and resize
about 50 percent.)
 
3.) Merge visible
 
4.) Duplicate this layer 4 times for now hide two of them
 
5.) now arrange your first and second layer .. like so
 
6.) Now its time to work our magic.. :)
Grab your Freestyle selction tool
and select the edge of your second/top layer
like this
 
 
7.) Go to Select/Modify/Feather 8
 
8.)  Go to adjust/brightness contrast/ brightness contrast/ 
lower the brightness about -18  .. or to where it looks good
to you..
 
9.) now unhide your 3rd layer..
 
10.) Now rotate this layer only by 10 degrees.. move it
so it matches up with your first and second layer..
it should now be the middle layer..
 
11.) now we want to cut off the excess here..
so grab your rectangle selection tool and
select like so..
 
 
12.) Select none
 
13.) Add some drop shadows to the first middle layers
 
14.) Now grab your 4th layer and duplicate a few times
(we have to keep adding to the length.. )
 
15.) the next one i moved up instead of down and moved it up a bit higher
 
16.) I followed the same steps as above only i rotated it 25 degrees to match up
with the top and bottom layer..
 
17.) Now we will cheat.. LOL.. 
keep one of your layers you duplicated.. and hide it
 
18) now merge visible
 
19) Now right click on the folded ribbon you merged and duplicate it
 
20.) now you can move the folded ribbon up a bit like you did before
 
21) See now its taking shape.. :)
Grab your now second layer.. the original you duplicated
this one here.. LOL
 
 
22.) Rotate it.. like before til it matches up..
here is mine
 
23.) Again dont forget your shadowing from steps 6-8
 
24.) And now you want to select that middle excess part like the above picture
 
25.) Once you have your shadowing finished yah dont forget your drop shadow again.. and to
shadow the edges.. like steps 6-8
Now you need to merge visible again
 
26.) Now i selected all this and did steps 6-8 again
 
 27.) Now i selected these areas and adjusted the brightness up this time instead of down
 
 
All this shadowing can be placed differently than mine have fun with it.. Just gives the appearance of being
more realistic and moving