Create a new document what ever size you desire im going to be using a canvas size of 600 x 250 pixels. Double click your background layer to unlock it, unlocking the layer will make it editable. Add a simple gradient overlay to your background layer, im going for a greeny gradient.
Create a new layer above your background layer and label it "grey canvas" fill it with the color #E1E1E1. Now goto "filter > noise > add noise" use the settings below.
Select the lasso tool and randomly create a hole in the grey canvas.
Hit the delete key once the selection has been made then add this layer style to the "grey canvas" layer.
You should have something like this.
Create a new layer above your grey canvas layer called "white canvas layer". Fill the canvas with the color white, select the lasso tool once again and randomly draw another hole, i might help if you lower the opacity abit as you want it rougly the same shape but alittle bit bigger. Ive set my opacity to 35%.
Hit the delete key once the selection has been made then set opacity back to 100% then add this drop shadow using the settings below.
You should have something like this.
Now go here and download the paper texture. Once downloaded add it to a layer above the white canvas layer. With the magic wand tool select the hole you previously cut on the white canvas layer, select the paper texture layer and hit delete. Set paper texture layer opacity to 40%.
Next select the rectangular marquee tool and create a small rectangle roughly the same height as your ripped hole, fill with the color white. With the lasso tool just randomly cut around the edges of the rectangle once a complete selection has been made goto "select > inverse" then hit the delete key, heres mine shown in red.
Now add these layer styles also label your layer "torn paper".
Slighty angle your torn paper layer using the free transform layer (CTRL - T). You should have something like this.
Underneath your torn paper layer create a circle using the elliptical marquee tool, fill with the color black. Goto "filter > blur > guassian blur" blur by 7 pixels and set layer opacity to 15%.
You should have something like this.
Thats it, now add something between your background layer and grey canvas layer.
