Font of choice.

I used a drop shadow of vertical 0, horizontal 5, opacity 75, blur 10.

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

Paste the mask, resize 95%, select all, float and defloat, make a new layer, paste paper 5 into the selection, deselect and delete the black mask layer.

Paste element 41, resize 60%, position and apply the shadow.

Paste element 12, resize 40%, select the interior with your magic wand, expand the selection by 20, make a new layer below it and paste paper 7 onto the selection, deselect, apply the shadow to the element, merge it down onto the paper and move into place.

Paste element 50, resize 35%, position and apply the shadow.

Paste element 23, resize 25%, position and apply the shadow.

Paste element 25, resize 30%, position and apply the shadow.

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

Paste element 20, resize 50%, position and apply the shadow.

Paste element 105, resize 25%, position and apply the shadow.

Paste element 141, resize 35%, position and apply the shadow.

Paste element 74, resize 50%, position and apply the shadow.

Paste element 95, resize 50%, position and apply the shadow.

Paste element 19, resize 50%, position and apply the shadow.

Open element 30, duplicate it and delete the original, on the copy apply the 20.20 mask twice then copy and paste on your canvas, resize 50%, duplicate and move both copies into place.

Paste element 18, resize 30%, position and apply the shadow.

Paste element 34, resize 50%, position and apply the shadow then use a lower opacity brush to blend in the water around the right side of this element into element 18 below it.

Paste the tube, resize resize 20%, position below element 34 and apply the shadow.

Paste element 76, resize 20%, position above the two copies of element 30 and apply the shadow.

Paste element 143, resize 30%, position and apply the shadow.

Paste element 84, resize 20%, position and apply the shadow.

Paste element 103, resize 20%, position and apply the shadow.

Paste element 133, resize 20%, position and apply the shadow.

Paste element 93, resize 25%, position and apply the shadow.

Paste element 4, resize 25%, position and apply the shadow.

Paste element 130 above the tube, resize 12%, position and apply the shadow.

Paste element 94, resize 40%, position and apply the shadow.

Paste element 24, resize 35%, position and apply the shadow.

Paste element 69 on the top, resize 10%, position and apply the shadow.

Paste element 66, resize 10%, position and apply the shadow.

Paste element 75, resize 20%, position and apply the shadow.

Paste element 86, resize 15%, position and apply the shadow.

Paste element 70, 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.