Start off by opening your image up in photoshop, im going to use a simple cardboard box image.
Select your desired cutting tool and cut the object from the image, copy and paste the object to a layer on its own.
Select the layer your object is on then goto "filter > vanishing point".
Once vanishing point has loaded up select this icon from the menu on the right.
Start off by clicking on the top four corners of the box one at a time, you will see its abit like the pen tool, once you have clicked the fourth corner you should be presented with a blue grid "yellow" and "red" grids are BAD. You should have something like the image below.
Now hold down the Ctrl key on the keyboard, while its down drag the middle anchor point down, you should see a continuous grid being applied to the other side of the box.
You may need to adjust the grid after the above step so it align's with the object. Now select the middle achor point on the next grid and drag to the right.
You should end up with this, the grid wont fully align with my last side of the box for some reason, but ive aligned it up as best as i can.
Once your done with the grid click the arrow at the very top of the screen by the menu and click "return 3D layer into photoshop".
Now press ok, photoshop will do its magic and you will then be presented with 1 extra layer and a extra object.
Hide your "named layer" in my case the cardboard box layer, then double click the little thumbnail on the "temp" layer.
Now that you've double clicked that little thumbnail aload of new menu items are now available at the top of the screen, these options will allow you to roatate, slide, shift etc… your new object. This object can also be used in adobe flash to create cool 3D animations.
More Tutorials: 
