Road sign...

• Create a new document - 600*800 px.
• Create post using Illustrator and 3d effect (Effects > 3D > Revolve) or make it using Pen Tool and grey/ black gradient in Photoshop.

• You may download vector file here.

• Insert downloaded file into a new layer in Photoshop.
• Duplicate post layer. Adjust Fill setting about 0% for created layer.
• Apply Gradient Overlay, just like in the screen shots below. You may add Layer Mask and erase bottom and top part of shape using soft brush.

• Duplicate layer once again and apply following pattern to it.

• In order to create light spot, make line 1px, using Line Tool, and apply Gaussian Blur filter about 1%.

• Merge all post layers.
• Duplicate created layer, and transform it using Free and Rotate transformation to make cross-bar.

• Create path just like in the example below using Rounded Rectangle Tool.

• Click Ctrl+ Click to load selection.
• Fill selection with wooden pattern.

• Select Eraser Tool.
• Choose Ornament 5 brush from preset Assorted brushes. Create ragged edges using it for wooden board.

• Duplicate board layer, move bottom layer a little bit left and down (about 1-2 px).

• Apply dark Color Overlay to moved layer just like in the example below.

• Duplicate wooden board layer, adjust Fill about 0%.
• Apply Gradient Overlay and Inner Shadow layer style effects.

• In order to create board holders, make small rectangular using Rectangle Tool and apply Reflected gradient to it.

• Add one stroke to the left and one to the right side of the rectangular. Apply black/transparent reflected gradient to left stroke and white/transparent to the right stroke.

• Now create rounded rectangular and apply following Drop Shadow and Gradient Overlay to it.

• Draw small circles for screws.

• Add white strokes.

• Duplicate created shapes for second board holder.

• Create next detail using previous actions, but change gradient angle.

• Here you may see the same shapes, created with using Free Transformation.

• Duplicate these shapes several times.

• Create the wooden arrow and fixing by the same way as a wooden board in the previous actions.

• Create second wooden arrow.

• Apply Skew transformation to it.

• Reduce arrow size across using Free Transformation

• Apply Gradient Overlay layer style effect just like in the example below.

• Duplicate arrow layer, apply dark Color Overlay and move it little bit left.

• Add holder elements, create perspective effect using transformation (Free transformation, Distort or Perspective), small gradient displacement to the right.

• Move screws a little bit right.

• Use Horizontal Flip transformation for third arrow.

• Type any sign.

• Apply Fill about 0%.

• Add following layer style effects.

And here is result!