Font of choice.

I used a drop shadow of vertical 0, horizontal 5, opacity 55, blur 15.

Open a new transparent canvas 750 by 800 pixels and fill with white.

Paste the mask, resize it 95%, select all, float and defloat, make a new
layer, paste paper 5 into the selection, deselect and delete the original black
mask layer.   When I had finished my tag I duplicated this later and moved it
down so just a little showed at the bottom of the rug erasing most of it.

Paste tree 4, resize 60%, position and apply the shadow.

Paste house, resize 55%, position and apply the shadow.

Paste light, resize 35%, position and apply the shadow.

Paste frame 6 and resize it 35%, select the interior sections with your magic
wand and expand the selection by 10, make a new layer below it and paste paper 7
into the selection, deselect, apply the shadow to the frame, merge it down onto
the paper and move into place.

Paste branch 2, resize 15% and mirror, position and apply the shadow.

Paste bell 2, resize 15%, position and apply the shadow.

Paste bow 3, resize 10%, position and apply the shadow.

Paste mailbox, resize 20%, position and apply the shadow.

Paste bird 2, resize 8%, position and apply the shadow.

Paste sleigh, resize 35%, position and apply the shadow.

Paste bag 2, resize 15%, position and apply the shadow.

Paste snow, resize 40%, position and apply the shadow.

Paste deer 2, resize 35%, position and apply the shadow.

Paste light 2, resize 10%, position and apply the shadow.

Paste book, resize 10%, position and apply the shadow.

Paste cards, resize 10%, position and apply the shadow.

Paste clock, resize 10%, position and apply the shadow.

Paste flower 7, resize 5%, position and apply the shadow.

Paste flower 1, resize 5%, position and apply the shadow.

Paste rug, resize 50%, position and apply the shadow.

Paste fireplace 2, resize 45%, position and apply the shadow.

Paste toy, resize 25% and mirror, position and apply the shadow.

Paste chair 1, resize 25%, position and apply the shadow.

Paste gift 5, resize 12%, position and apply the shadow.

Paste elf, resize 12%, position and apply the shadow.

Paste bird 1, resize 10%, position and apply the shadow.

Paste box, resize 22%, position and apply the shadow.

Paste nutcracker, resize 20%, position and apply the shadow.

Paste the tube, resize 22%, position and apply the shadow.

Paste gingerbread 5, resize 17%, position and apply the shadow.

Paste gift 6, resize 13%, position and apply the shadow.

Paste gift 3, resize 12%, position and apply the shadow.

Paste milk, resize 15%, position and apply the shadow.

Paste ornament 7, resize 6% and rotate 160 degrees to the left, position and
apply the shadow.

Paste treat 3, resize 13%, position and apply the shadow.

Paste ornament 5, resize 7%, position and apply the shadow.

Paste dog 2, resize 15%, position and apply the shadow.

Paste bell, resize 5%, position and apply the shadow.

Paste ribbon 1, resize 20%, position and apply the shadow.

Paste train 1, resize 20%, 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.