In this Adobe Photoshop tutorial you will see how to make a stylish, bended price tag label, could be used as an icon example or web graphic etc.

1.
First we make the basic shape of the price tag, because its not a standard shape from the library.
Go to the custom shapes panel and drag the shape from below on to the stage, Then right click the shape layer in the layers panel and choose rasterize layer.

2.
Then with the shape layer selected select a rectangle below the shape to make the shape longer as shown below. Hold down shift and press backspace and fill the selection with the same color as the other part.

3.
Now select the top part of the shape and delete it so your shape should look something like the one below.

4.
Then I used the edit -> free transform tool to rotate the shape as shown below.

5.
Now i used the image -> adjustments -> hue and saturations to change the color of the shape a bit.
Double click the shape layer in the layers panel to get to the layers style panel and give it settings as in the image below.

6.
Hold down ctrl and click the shape layer to load the selection, then go to edit -> stroke and give it a stroke with a width at about 4 px, in a lighter color then the shape. (Remember to do this in a new empty layer). Then give the stroke layer a filter -> blur -> gaussian blur at about 1 to soften the edges.

7.
Now your label text and use the edit -> free transform tool to rotate it to fit the label shape and place it on to the label.
Make sure the text layer is just above the label layer, then right click the text layer and choose rasterize type, then right click again, and choose merge down, so the label and text is in the same layer now.

8.
With the edit -> free transform tool now drag the corners while holding down the ctrl key, this will give you control to drag the label in to a perspective view as shown below.

9.
With the elliptical selection tool drag as in the image below and hit the delete key so you get a hole in the object.

9.
Now go to edit -> transform -> wrap and drag in the grid so it looks like the label folds as shown in the image below.

10.
Now we are going to make a shadow layer to our shape.
Make a new layer below the label layer, hold down ctrl and click the label layer to load the selection, then hold down shift and hit backspace and fill the selection with black. With the shadow layer selected go to edit -> free transform, hold down ctrl and drag the handles down so it looks like the shadow hits the ground as illustrated below. Then bring down its opacity to about 35% and give it a filter -> blur -> gaussian blur with an amount of 20.

11.
Now you can make a string to attach with the label, use a brush tool or pen tool for more control and draw so you have a string attached as shown in the final image below.

You are done, I just changed the color back to black and white tones, I liked it better that way.