Well, the original vintage one was actually painted (mostly with an airbrush), it was a long time before the digital era.
The one being used right now by Mattel and Classic Media is the one I painted in Photoshop.
But the way I did it didn't really use many special Photoshop trick.
To emulate the look of the original, I just emulated the same painting process in the digital environment.
So no 3D or any effect.
I draw it line by line, then used the airbrush and lot of masking. The only "trick" I used was the noise filter, to add grain to the airbrushed parts, to not make them look too digital.
But that's about it