I started out with a white layer and using the freehand pen tool drew two jagged lines across the page making a closed shape. Then I filled it with black.



Next, I used the magic-select tool to select the black shape and chose two shades of orange. Using filter/render/fibers I filled the selection making that firey texture. I added a lens flare to the widest region for a little glam.



Then, using blending options I just tweaked it until it looked like more like a torn sheet. I think I used a black outer glow, slight emboss for the edges, and a drop shadow.



I used the ellipse selection tool and the pen tool (set to huge) on a new layer and just stacked ellipses on each other and cut out areas using black and white to trim edges.



I then made another ellipse on a new layer and filled it with any color, then picked two shades of blue and filter/render/clouds to fill it.



Again, blending options on the black structure to make it look 3D'ish and slapped on the text (font=boostssi with subtle gradient and gradient stroke using other shades of silver for the edges).




I then made a new layer above the background, but below the "tear" layer and used filter/noise/add noise and set it to monochromatic/maximum.



Next, I made another layer on top of the noise layer, selected two shades of gray and again used filter/render/clouds. Then I used filter/render/lighting effects. Set it to omni and decreased the ambience, and increased the diameter. Then I decreased the opacity of the layer to the noise layer would be visible through it making a grainy appearance.




all done...