Tube of choice,I am using Barbara Jensen,which you can purchase here,do not use unless you have a license to do so.
Scrapkit is a freebie,Blue Christmas,from Ziggyfan Scraps here. Thank you Amy!!
Font of choice,I am using Snowflake Letters here.
-This tutorial was written assuming you have working knowledge of PSP-
Dropshadow for tut:
Open a new 500x500 white image.
Paste ribbon frame/resize 20%/edit/repeat resize.
Click inside frame using your magicwand/selections/modify/expand by 4.
Paste paper 5 below frame layer/resize 25%/selections/invert/delete/do not deselect.
Paste gift/resize 25%/layers/duplicate/position/delete/do not deselect.
Apply dropshadow to gifts.
Hide white background/layers/merge/merge visible/dropshadow/unhide layer.
Resize merged layers 15%/position.
Paste snowflake 2 below merged layers/layers/duplicate 3 times/position.
Paste elements/resize 30%/erase everything but the wordart/position/dropshadow.
Repeat with elements leaving diamond accent only.
Paste ornament button/erase bulb/resize button 40%/edit/repeat resize/position/dropshadow.
Image/resize all layers 5%.
Hope you enjoyed my tut,would love to see your results.