First start by creating a new document (177 x 289). After that select the rectangular marquee tool. Choose fixed size for the style and apply the width and height in the tools options bar see figure below for more details about sizing.
Click anywhere in the document to create the selection. Position the selection where you want it to be. Fill the selection with black.
Next, duplicate the layer 5 times, you should have a total of 6 black stripes. Position them next to each other with a little bit of space in between them, and don't forget to rotate them as well, see figure below for details.
Create another selection with the rectangular marquee tool, then go to Select>Modify>Smooth(amount:your choice). See figure below for details about sizing.
Fill the selection with #ffd800 for a yellowish / gold color. Add a stroke to the layer color: black, size: 1, position: outside. See figure below for details.
Create a new layer. Select your Text Tool and type the letter U, use size 48pt. Then rotate the text 180°, after put the text layer behind the lock base layer(s). See figures below for details.
Select the text layer and add a bevel and emboss layer style. See figure below for details.
Don't click ok because we still have more. Add a color overlay layer style. See figure below for details.
Alt + Click or Opt + Click between the black stripes layer and the lock base layer. See figure below for details.
Finished!
This is what you should have.
Have Fun!
Don't Forget I Have Included the PSD File Lock.
More Tutorials: 
