I used a drop shadow of vertical 0, horizontal 5, opacity 75, blur 15.

Open a new transparent canvas 750 by 750 pixels and fill with white.

Paste the mask and resize it 80%, select all, float and defloat, make a new
layer, paste paper 5 into the selection, deselect and delete the original black
mask layer.

Paste element 176, resize 50% and move into place.

Paste element 184, resize 25%, position and apply the shadow.

Paste element 183, resize 7%, position and apply the shadow.

Paste element 178, resize 30% and move into place.

Paste element 196, resize 60%, position and apply the shadow.

Paste element 23, resize 15%, position and apply the shadow.

Paste frame 2, resize 35% and move into place, select the interior with your
magic wand, expand the selection by 20, make a new layer  below the frame, paste
paper 34 into the selection, paste the tube, resize it 80%, change the blend
mode to overlay, invert the selection and hit delete, deselect and apply the
shadow to the frame.

Paste the tube again, resize 50%, position and apply the shadow.

Paste element 108, resize 22%, position below the merged frame layer and
apply the shadow.

Paste element 104 above the merged frame, resize 27% and rotate 10 degrees to
the right, position and apply the shadow.

Paste element 100, resize 13%, position and apply the shadow.

Paste element 105, resize 27%, position and apply the shadow.

Paste element 17, resize 20%, position and apply the shadow.

Paste element 13, resize 17%, position and apply the shadow.

Paste element 21, resize 20%, position and apply the shadow.

Paste element 8, resize 15%, position and apply the shadow.

Paste element 9, resize 15%, position and apply the shadow.

Paste element 190, resize 30%, position and apply the shadow.

Paste element 120, resize 35%, position and apply the shadow.

Paste element 119, resize 35%, position and apply the shadow.

Paste element 12, resize 10%, position below the balloons and apply the
shadow.

Paste element 200, resize 50%, position and apply the shadow.

Paste element 121, resize 25%, position and apply the shadow.

Paste element 33, resize 20%, position and apply the shadow.

Paste element 34, resize 12%, position and apply the shadow.

Paste element 31, resize 15%, position and apply the shadow.

Paste element 19, resize 20%, position and apply the shadow.

Paste element 12 again on the top, resize 10% and mirror, position and apply
the shadow.

Paste element 113, resize 13% and rotate 60 degrees to the right, position
and apply the shadow.

Paste element 115, resize 13% and rotate 10 degrees to the right, position
and apply the shadow.

Paste element 170, resize 55%, position and apply the shadow.

Paste element 3, resize 15%, position and apply the shadow.

Paste element 165, resize 10%, position and apply the shadow.

Paste element 30, resize 20%, position and apply the shadow.

Paste element 72, resize 20%, position and apply the shadow.

Paste element 50, resize 15%, position and apply the shadow.

Paste element 26, resize 17%, position and apply the shadow.

Paste element 28, resize 10%, position and apply the shadow.

Paste element 25, resize 17%, position and apply the shadow.

Paste element 15, resize 17%, position and apply the shadow.

Check your layers and make any adjustments, then crop your tag, add your
copyright information and text and export on a transparent background as a png.