A page from Boozy’s Notebook.
Here’s a quick walkthrough of the method:
choose deco brush
remove default texture applied
turn zadd on to 100% and draw size down to about 2
draw shape on canvas > make polymesh
unify this newly created polymesh so it is central in the Tool view window.(Tool>Deformation)
remove creases from the polymesh (Tool>Geometry)
now store a morph target ( Tool>Morph Target)
offset -20 in z direction (Tool>Deformation)
now create a morph difference mesh ( Tool>Morph Target)
now divide the mesh a few time so it is smooth ( Tool>Geometry) - (because the creases have been removed the edges of the ribbon are softer than they would have been had creases been kept)
Clear lower resolution divides before proceeding to texture ( Tool>Geometry)
now rotate the morph difference mesh in the tool view so it is side on and apply planar mapping
choose a texture - or do whatever you like 
Hope some find this useful.
50.