When you think of 3D applications, you rarely think of Adobe Illustrator CS5, but the fact is that Illustrator has some decent tools to create simple 3D vector art. VectorTuts has a great Illustrator 3D tutorial to introduce you to the tools and help you create some neat effects like you see in the image above.
The link above goes to a page of 34 text-only steps in 6-point type. Go to the bottom of the page and click the “Read the full article” link for the illustrated tutorial.
Thank you amack, for pointing this out. I have updated the link(s) to point directly to the page on VectorTuts instead.