When you have a straight line of something that you want to make into a circle, give the Polar Coordinates effect a try.
A fun thing to start with is a ribbon or fibre. Open your png fibre or ribbon, and increase your canvas size to a full 12 x 12 behind it. (Image >canvas size, then set to 12 x 12 inches and choose center square). In choosing your ribbon, know that one which is straight across and to the edge will meet when rounded. If the ends don't hit the edge or the same place at the edge, the effect will be a little different, but give those a try too, to see what you like. Also, vertical ribbons do not get this effect, so use a horizontal one for this exercise, and play with vertical elements afterwards to see what I mean.
The effect is under Effects > Distortion effects > Polar Coordinates. In the pop up box, tick "rectangular to polar". Tick "transparent" as well - this will mean your background stays transparent; otherwise a black edge will appear. Here is what you get. The fibre is distorted somewhat. If you like yours that way, leave it. But there is a fix if not.
Undo, and go back to your fibre or ribbon. Stretch it vertically - to about twice its normal vertical height, leaving the width the same. It will look distorted.
Now apply the same Polar Coordinates. The rounded result is much more like the shape of the straight fibre.
Here is another ribbon; again, it was stretched vertically first.
And this was a straight bar with the pointy ends, which did not go all the way to the edge of the background:
And a strip of stamp decor:
And of course, text, should you not want to go the traditional route of text in a circle using the vector shape. This is nice if you want to add objects or elements into the text line before rounding. Remember to stretch it vertically too.
These butterflies were a picture tube in PSP. Stamped in a straight line across the page, and stretched up, they now make a cute circle wreath of butterflies. Must be some nectar under there!
This business works in reverse too! Here is a stamped circle frame, a dover image.
Choose Effects > Distortion Effects > Polar Coordinates, but this time tick Polar to Rectangular. It gives you the line of vertically stretched art:
Now change that by reducing the height, and you have a line pattern!
Varying the amount of canvas you give an object behind it when you apply the effect changes the amount it is polarized. Of the below, the first had a smaller canvas, and the second had a larger blank canvas behind it. So you can play around with the effect until you get something you like and can use for your layout.
Thanks for following along!