This will be a nice easy tutorial and give results straight away :) I can see you smiling already after reading some of my tutorials. The great thing about this one is it can be as simple or complicated as you like. I will start with the simple.
Open a new window, 20 cm by 20 cm, 300 per inch,RGB, transparent and name it ricrac. Either place a piece of ribbon element into the box or use your marquee tool to mark out a 1cm by 20 cm box and using the paint bucket tool flood fill with the color of your choice. Control D to get rid of the marching ants. So you will have this:
The top one is the flood filled box before deselect and the bottom one is a ribbon I made. Click on the box to enlarge it if you can't see very well.
Now is the time to add some texture if you like. I made a texture to give the effect of the stripey lines you get on ricrac. You should be able to right click on it and 'save as' then use on your ribbon. Or you could go into the filter tab and go down to texturiser, then textures and choose from burlap or canvas, both are nice.
(If you think you will be doing more editing on the texture stage then drop the ribbon into a new 20cm by 20cm box by opening a new window, clicking on the ribbon window in the project box and drag and dropping into the new window.)
You now have a ribbon with a texture to it ready to be turned into ricrac. Go to filter tab on the top menu. Click and go down to distort, now click on wave. A new box will appear. It will look like this.
First box says number of ...put 3
Next box across says type... click on the dot that says sine
In wavelength put.... 62... 62
Undefined areas put...wrap around
Now click OK. You are finished. Below is what mine looked like using the texture on soft light.
This is one where I made the texture slightly narrower than the ribbon and used linear burn to make the texture more apparent.
So that is it. I hope you found this an easy to follow tutorial, let me know if there are any bits that are confusing.