Start by creating a rectangle using rectangular shape tool.



Press Ctrl+T. Right Click and select persspective. Adjust the nodes as shown.



Press Ctrl+T. Right Click and select Warp. Adjust the top nodes as shown.





Create another rectangle using rectangular shape tool.



Press Ctrl+T. Right Click and select Warp. Select Arc from the preset warp shapes from the top bar. Apply settings as shown.







Scale down this warped rectangle a bit.



Create two small rectangles using rectangular shape tool.

Double click the layer to open layer style window. Apply settings as shown.





Apply same layer style to all other layers.



Create a rectangle for the pillow using rectangular shape tool.



Press Ctrl+T. Right Click and select Warp. Select Inflate from the preset warp shapes from the top bar. Apply settings as shown.



Apply stroke layer style.



Duplicate, rotate to the other side and place for the other pillow on the couch.



Add in company name and punchline as appropriate.