draw cracker shape with pentool ...

fil with gold gradient... dark at the bottom. light at the top. select marque tool rectangle. select half of cracker, Cut, then paste into new layer.

FREE TRANSFORM cracker pieces. to required position... NOTE: at this step you may like to adjust the GOLD gradient and redrag gradient. Allowing for repositioning of crackers.. light and shade sources.

Add Pattern overlay to cracker.. anything that gives a paper textured look.

To create shattered bits.

select LASSO TOOL

select small section of cracker... while holding down Ctrl KEY on keyboard drag selected piece. .. repeat until your happy with pieces. ... do to both sides.

create christmas hat.
merge layers. postion all over cracker, setting layer blend to OVERLAY

Do the same to "P"

to create ties. create tie shape with pentool. make selection , fill with pattern of choice. Use DODGE /BURN to create shadow and highlight.

to make card:

create rectangle.

fill with gold gradient. apply BW gradient overlay for light and shade.

apply text and trim pics.
erase corner to allow for ribbon. add a little burn for shadow.

select card. add new layer and fill with a dark shade for back of card. drag layer below card top layer.

I do the back last incase i change cover colour . this way you can make sure back and front match.