To do things like placing an slanted, colored oval around a slanted text, there seems to be a lot of confusion about making the slanted oval in PhotoShop. To make an oval and tilt it In PS4:

1. While you have your layer open, use the marquee to make your oval. * You can make your oval by using the standard circle marquee or using the Gaussian filter on a square and adjusting the levels
2. Open the Channel selection and create a new channel - (Notice I said Channel and not Layer)
3. With the marquee selected do Control-I to invert the selection to white
4. While still in the channels menu, use the Layer | Transform | Rotate and tilt the oval to your desired angle and set at this new tilt
5. Open the layer menu and open a new layer
6. Perform Select | Load Selection and select the channel you just created
7. The marquee will now be selected at an angle
8. You can now do with it what you like - paint it, wallpaper it, plaster it, or just hang sheet rock in it.
Now, in PS5 the Adobe Gods figured out how to make this is a lot simpler:
1. Make your selection using the circle marquee (or using the Gaussian filter - whatever your preference)
2. Next, do Select | Transform Selection - and rotate to your heart's desire.
3. Remember to do your cardboard cutout on a different layer so you don't effect your primary text or image
We won't bother to count the number of steps saved in this little exercise between PS4 and PS5, but just remember to give thanks to the Adobe Gods next time you pick up your Wacom.
Shay