This is my second tutorial. This one is much harder then the lady bug. If there are any questions or anything that is unclear please leave a comment or email me at rsignor@centurytel.net
This is what we're making.
This tutorial requires no plug-ins, but does require a working knowledge of psp.
But obviously it is NOT where we're starting from. LOL
This is where we're starting from.
Open a new image. I opened mine at 12 inches high, and 2 inches wide.
Right click on the above blue loops and save. You can use it as your template.
Trust me it will save you hours to just copy it. If for some reason you can't get it saved, email me, and I'll send it to you. Its not exactly a huge file. 
Okay now copy and paste the blue ribbon onto your new image.
Then open your pen. Set width at 6. Click on the very top point of the left curve. Set the second click over the top of the right curve. Hold onto the mouse and move until the curve looks exactly like the blue one. See the below example.
If your vector goes over the top of the left thats fine. We'll be doing some deleting in a bit.
Okay if you have that convert the vector to a rastor layer.
Go to Effects; Drop Shadow; Vertical 1, Horizontal 1, Opacity 73, Blur; 5 Color Black. Hit ok.
Now right click on this raster layer and hit duplicate. Take your move tool and move it slightly to the right Repeat this a second time. It should look approximately like this.
Right click on the top copied layer, and hit merge down. Do this twice. So that all three gray circles are merged together. Then right click and hit duplicate again. Take the three merged layers and move over to the right again. So that it looks like this. Merge down so that all the gray is merged together.
The next step is the only "tricky" part. On the gray raster layer lower the opacity to about 40%
Take your free hand selection tool and click on the top left point of the blue (which you can see under the gray) follow this line straight across until your on the other side of the gray. Click once. Bring the mouse straight up to the top of the gray. Click. And then bring it back over to where you started and click a third time. This will reconnect the marching ants.
On your keyboard click delete. Your beginning ribbon looks like this now.
If for some reason you left a little gray smudge like I did on mine. Feel free to erase that. 
Go to selections, and click none.
No take your selection tool down to the bottom right corner of the gray ribbon where it hangs over the blue, and click around that and delete it too.
If you click a little bit "too" much off that's okay. It will be covered up in the next step.
Now restore your gray raster layer to 100% And what you have should look like this.
Now go back to your pen tool. And click on the top right corner of the blue line. And the bottom right corner of the blue line. Hold the mouse down and move it until it matches the blue line curve as closely as possible.
It should look like this.
Convert to raster layer. And go to effects, drop shadow, Repeat the same as you did the first time.
Now we're going to do exactly like we did on the other side. Duplicate the line. Only this time move it to the left. Duplicate a second time. Move it to the left. Merge these three lines together.
Duplicate move to the left and you'll have covered the second blue line.
Merge all of the left lines together. And change the opacity on the gray layer to 50%
Take your selection tool on freehand and click on the right hand corner above the gray. Bring it down and to the left until you reach the other side of the braid. Bring it back up to the top, and reconnect to the other side. Hit delete on the keyboard. It should look like this.
Now as you can see the bottom gray is hanging over. Take the selection tool and cut that off straight with the blue under template as well.
Return opacity to 100%
Now delete the blue template.
The hard part is done. *cheers*
Now go to effects drop shadow, and drop shadow both layers. Then merge together visible.
Take your move tool and move your wee little fellow to the very top of your layers. Right click on the layer and click duplicate.
Lower the second layer down until it fits like this.
Merge together. Click Duplicate. Lower the duplicate layer and you have a braid of four.
Merge Visible. Click Duplicate. Repeat until your braid is as long as you want it.
Sometimes the braid will want to go crooked as your duplicating. Watch the checked boxes behind it to keep it straight. Or use your straighten tool when your all done.
To change the color of the braid when its all done. Click select all, float, defloat. Add a second layer. Flood fill with your color of choice, and play with blend layers.
If you want you can also use Greg Factory's output pool shadow effect. This is a plug-in that you can find through google.
Have fun. The skies the limit.
