Hi and welcome to PSG.
This is a really fast explanation, sorry.
In order to accomplish this effect you must have some artistic ability.
When creating anything in Ps make sure everything is on it's own layer or can be later placed on it's own layer.
The sections of the ribbon must be on their own layers.
[ATTACH]52307[/ATTACH]
For this demo, I will only use one section of the ribbon.
Here is the lower part of this section.
I used the Pen Tool set to shape. I also set my shape fill to the same color of your ribbon.
I used your original ribbon as a template to trace over.
[ATTACH]52308[/ATTACH]
Here is the upper part of the section.
[ATTACH]52309[/ATTACH]
Since the two are on separate layers, you can now isolate them by making
a selection. (Shift + mouse click the layers thumbnail)
[ATTACH]52310[/ATTACH]
Create a new layer. Then use the Brush Tool to fill in some shading within the selection.
Since the light will be coming from the left, the ribbons edge here would be lighter.
[ATTACH]52311[/ATTACH]
Isolate the upper section.
[ATTACH]52312[/ATTACH]
On a new layer use the Brush Tool set to a darker color to
fill in the 'backside' of the ribbon.
[ATTACH]52313[/ATTACH]
Do the same for the rest of the ribbon sections.
Here is the layers panel....
[ATTACH]52314[/ATTACH]
Good luck.
