Duplicate the letter. Press Ctrl + T to make a free transform and transform it as you can see on the picture bellow. Then grab the Gradient Tool (G) and fill the shape with solid black color.
Step 28 - Adding Blur
To make the shadow more realistic it´s necessary to blur it. Select Menu > Filter > Blur > Gaussian Blur and set the value Radius on 4 px. Press OK.
Step 29 - Fading The Shadow
The shadow should be less visible on the opposite site. To fix that select the Eraser Tool (E). Select some soft round brush and set the value Master Diameter on 300 px. Erase the top part of the shadow.
Step 30 - Warping The Shadow
In this step you´ll warp the shadow to make it even more realistic.
Go to Edit > Transform > Warp and move with the grid as you can see on the picture bellow. Once you´re satisfied with the shape press Enter.
Your picture should look like the one bellow so far.
Step 31 - Duplicating The Object
In this step you are going to add more of the letters to create perspective. To do that duplicate the letter without colors several times and place these new letters similar as in the picture bellow.
Step 32 - Creating A Camera Effect
Once you´ve placed all the objects, you're going to add blur to all the objects to create camera focus. Select Menu > Filter > Blur > Gaussian Blur and set the diameter as it´s shown on the pictures bellow.
Step 33 - Adding Clouds
In this step you´re going to add some clouds behind the text. Download the cloud brush from this link and install it into Photoshop. Once you´re done grab the Brush Tool (B) and select one of the cloud brushes you´ve just installed.
Pick some light blue color and paint the clouds similarly as on the picture bellow.
Step 34 - Placing The Bird
Select Custom Shape Tool (U) from tools. Choose the parrot shape and place it above the text. (You can download similar bird shape here)
Your picture should look like the one bellow.
Step 35 - Placing The Feathers
Download the feather brush and install it into Photoshop.
Paint some random black feathers as you can see bellow. Change rotation of some feather by selecting them with Marque Tool (M) and rotating them after pressing Ctrl + T. You can also warp them a little with use of Warp Tool (Edit > Transform > Warp).
Step 36 - Adding Shadow Under The Bird
The last thing which is necessary to do is to place shadow under the bird. Make a selection as you see in the image below and fill it with black. Lower the opacity of this layer to 70%.