Open a new white image of 500 x 400 pixels. Set your foreground color to #C40000 and your background
color to #FF9797

Change to the Standard Selection Tool and in the Attribute Toolbar click on Options and make sure Anti-aliasing and Preserve Base Image have a checkmark.

In the Menu bar go to Edit - Fill - Color and fill your canvas with the background color. In the menu bar click on Photo: Noise - Add Noise -
Options and use these settings:

Rc: All. Rc: Border. Create a border of 5 pixels Inward:

Rc: Convert to Object and fill with your foreground color.

Deselect. Rc: All. Rc: Expand/Shrink. Shrink your selection with 20 pixels like so:

Rc: Convert to Object and fill with #FFC7C6. Keep selected. Change to your Paintbrush

with these settings using your foreground color:

On your keyboard click Shift+P to paint a thin red line on the edge of the object.

Keep Selected. Add Noise with the same settings as above, but change the Variance to: 3. Deselect.
Rc: All. Rc: Expand/Shrink. This time shrink your selection with 35 pixels. Convert to Object. Rc: Arrange - Bring to Front and fill with the same
color #FFC7C6. Add the same amount of Noise and repeat the Paint on Edges effect with the same settings as above.

Press your Control key and in your Layer Manager select the 2 objects we just created.

Merge as a Single Object. Rc: Shadow with these settings usisng your foreground color:
Deselect.
Click to Show your Ruler.

Rc: All. Change to your Transform Tool

- Resize.
Click the Selection button:

Watch your Ruler and drag the top transform handle down to 150 like this:

Convert to Object. Arrange: Bring to Front. In your Layer Manager select the layer with your dark red outer frame

and Rc. Arrange - Bring to Front and deselect. This is what I have now:
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