Open a document. Fill the first layer with a BG color of choice.
Create a new layer.
Grab your Lasso Tool and make your design shape. When you reach the end and close the path, you have a selection.
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Fill the selection with white and add a drop shadow using a layer style.
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Create a new layer and Command/Control + click on the design shapes thumbnail, this will make a selection.
Go to SELECT > MODIFY > CONTRACT and enter 5 pixels. (you can always change this amount to suit your needs)
Fill the newly contracted selection with a color of choice.
Add a drop shadow using a layer style to this shape as well, it has to be very shallow, it does not have much room to fit on the white layer.
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Next, create a new layer.
Use Command/Control + click on the original design shapes layer thumbnail to once again make a selection.
Fill this layer with a new color of choice.
Repeat this step again.
Use your Move Tool to adjust these two new layers to where you want them. (note: I also use free transform to make them fit a little better)
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Now, Use Command/Control + click on the CONTRACTED design shape layers thumbnail to create selection.
If your selection looks like this, you need to invert the selection by holding SHIFT + COMMAND/CONTROL + I ( or go to SELECT > INVERSE)
It should look like this now with the marching ants on both the shape and the outer boundary of the document.....
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Next, select/Highlight the two newest design shape layers that we just moved one at a time and hit delete.
Hit Command/Control + D to deselect.
Should look like this.......
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