Unfortunately, I had no inspiration, so I simply used the word "ribbon".

I wanted rounder shapes, so I used a different font than in the example.

After I scanned my sketch, I converted my design to multiple vector shapes in Adobe Illustrator. I found out during this process that I need more practice with the pen tool.

I definitely broken some (design) laws. Oops ...!

Fortunately, there are classes here that will help me learn.

Photo of (my very messy) bezier curves:

Illustrator-file that can be read to Photoshop:

Photoshop-file without the stitching, gradient and texture

Final Result:

Thank you, Luke for teaching me new skills!