1. Open a new file of about 3600x3600pixels. Go to File>New.

NOTE: I will not use the whole workspace. It's just I prefer to work in a much bigger workspace.

2. Create new layer and name it as "cork". Select the Rectangular tool  and set the foreground to #9d8a74 and drag according to your desired size of the cork.

3. Add Noise. Go to Filter>Noise>Add Noise. Set the Amount to 20, Uniform selected and check Monochromatic. Click OK.





4. We will now create a frame for this cork. Create again new layer and name it as "frame". While the frame layer is selected, press CTRL+click on the cork layer. This will select the whole size of the cork. With still the Rectangular Marquee tool, drag inside the selection to subtract it. But make sure you click the subtract from selection option. Set the foreground to #6a4242 and press ALT+Backspace to fill it. Then press CTRL+D to select it.




5. This time click the Polygonal Lasso tool and select first the upper part  of the frame then add the selection in the lower part just like in the picture below.




6. While the upper and the lower part of the frame are selected, go to Filter>Noise>Add Noise and set the Amount to 20. Click OK.



7. Go to Filter>Blur>Motion Blur. Set the angle to 0 with a distance of 30. Click OK.



8. Do not deselect yet the selection. Instead press CTRL+Shift+I to inverse the selection. This will select the vertical parts of the frame.Do the same thing the upper and lower part setting. Add noise of 20 and motion blur with a distance of 30 also but this time change the angle to 90.




9. Press CTRL+D now to deselect. We will now add some style.

Bevel and Emboss:




Drop Shadow:




10. And by adding some shadow effect, here is the final result: