ok Lets get started:
Open a new file 800 x 300
transparent background
click on your preset tools and find the rounded rectangle and use the setting like the screen shot below:
Now over in your color palette chose a dark color for your foreground and a lighter shade for the background
now draw out your ribbon
and the go to layers and convert to layer
Now click on the magic wand and click on the inside of your ribbon
and use these setting for the blinds
go to effects--textures--blinds
Now select none
Now we will add the wave to it
go to effects --distoration and use these settings:
now you have a ric rac ribbon
resize it and save as PNG
Enjoy
Nip