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