Start by creating a triangle shape using custom shape tool.

Press Ctrl+T. Right Click and select Warp. Adjust the nodes as shown. Press Ctrl+T. Rotate layer as shown. Again press Ctrl+T. Scale down layer vertically as shown. Press and hold Alt key and keep pressing down arrow key to create 3D extrusion. Select the top most layer in layer palette and change its color for distinction. Move this layer a few pixels upwards as shown. Select and merge all black layers. Double click the layer to open layer style window. Apply settings as shown. Select the top layer. Double click the layer to open layer style window. Apply settings as shown. Create a circle using elliptical shape tool. Double click the layer to open layer style window. Apply settings as shown. Type C in a big font size. Place as shown. Select and merge all cake layers. Using lasso tool create a selection.

Press Ctrl+J to copy paste the selection in a new layer. Move this layer above the "C" layer in layer order in layer palette.

Type rest of the text using smaller font size.