Step 1
Create a new document in Adobe Photoshop with a white background. Type a letter in center of your document with a nice font like "Colonna MT" 200 pixels:
Step 2
Type another "S", this time with "French Script MT" font type and 150 pixels size, and place it in this position:
Step 3
Duplicate the layer which contains the second "S" (select the layer in the Layers Tab and choose Duplicate Layer), flip it horizontally and then vertically, and move it in a new position like in the next picture (to flip the layer horizontal select Edit > Transform > Flip Horizontal, and to flip the layer vertically choose Edit > Transform > Flip Vertical):
Step 4
Link the layers in the Layers Tab, but do not link the layer "background":
Step 5
Type another letter with the same font. Type a "D" and "Rasterize" the layer by right clicking and selecting Rasterize Layer in the Layers Tab:
Step 6
With a "Hard Rounded Brush 19 Pixels" delete an area like here and move the layer in this position:
Step 7
Duplicate the layer and move it like here:
Step 8
Duplicate the layer again and delete an area like here:
and move it in this position:
Step 9
With a little bit attention to the details you can obtain a result much better then mine:
Place your work on a model and see the result:
More Tutorials: 
