*This tutorial is written by me using Photoshop CS6 but any version will work.
Any similarity to any other tut is coincidental.*


Supplies:
Tube of choice. I'm using the artwork of Verymany.
You must purchase a license to be able to use their work.
You may do that at VMT store.
Kit of choice. I'm using PTU kit 'Proud & Beautiful'
by A [Space] Between. You can find it HERE.
Mask of choice - Mask 50 MB and SW
Font of choice - Levitee


Let's get started...
Open new canvas 600x600.
From the kit past Element 66 and place at the center. Drop Shadow:
Click on the background layer, then add Element 57 right around frame
with shadow. On it place Element 48, resize as shown and shadow:
Now add Paper 13, use Eraser Tool to remove extras
(paper should be only inside frame circle). Take full size tube and
place it on the paper right side so only lips are showen. Then right
click on the layer and Create Clipping Mask and set Bend Mode to Overlay.
Make a copy of that layer but set Opacity on 72%. Now take another
full size tube, Flip Horizontal and place it on the paper left side.
Set Blend Mode to Overlay with Opacity on 68%. Make a copy of that,
but no changes. In case some parts of one tube goes over the other tube,
just erese those parts. Click on the frame layer now. From the kit past
Element 48 and place it at the center as it is. Right click on that layer
and Create Clipping Mask. Now place full size tube in the center of frame,
resize as shown:
Use Eraser Tool to remove little at the tube bottom and then make a
tube copy. For the original tube layer use filter Paint Doubs as:
and add shadow. Then click on Adjustment>Hue/Saturation and set as:
Click on that layer then and Create Clipping Mask (it will apply for the
tube only this way). Now go to the Adjustmen>Brightness/Contrast and set:
Again Create Clipping Mask for that layer. Those adjustments are between
two tubes layers. Now for the tube copy layer use filter Guassian Blur:
Also set Blend Mode to Overlay with Opacity on 70%. We'll cover tube
bottom now and all of the elements will have Shadow. First place Element
19 at the tube right side. Add Element 43 then and place it so the right
side of the element be at the canvas center. Make a copy of it and
Rotate 180. Move it little up and to the right side, it should be on the
flower. On that flower add Element 47. On it place Element 25. Make a
copy of it, Flip Horizontal and place on the left ribbon. On it add
Element 47. At the center, between those elements, place Element 63.
In the middle of it past Element 65. Take Element 18, Rotate 180 and
place right from it. On them place Element 42. At the end add again
Element 18 and place it left from the centar, blue flower.


Now let's add mask:
Open your mask as new image.
Mask layer will be called 'Background' and will be locked. 
Double click on same layer, press OK. Layer name will be 'Layer 0'.
Add a new layer above it and flood fill with color of choice,
or use a paper from kit. I use Paper 13.
Click on mask layer and hold CTRL+A to Select All, CTRL+C to Copy.
Click on the paper layer, hit Q to turn on Quick Mask mode. 
CTRL+V to paste the mask. It should now be kinda red.
Hit Q to turn off Quick Mask mode
and there should be shown selection on your canvas. 
Hit the Add Layer Mask.
On paper layer, right click and Convert to Smart Object.
Right click again and Rasterize Layer.
Drag completed mask to your tag canvas as the bottom layer.
Resize it if needed.
Add proper copyright and your name on tag.

Hide or delete bottom 'Background' layer. And save your tag as .PNG file.
That's it! Thank you for reading. I would love to see any tags made with this tutorial. You can past the link here as comment or send them to me on al3x_v@ymail.com