Design your own Web 2.0 icons - part 1

Open a new file | 600 x 300 72 dpi

Using the custom shape tool (u) . And make sure that the Ellipse Tool is selected. Draw the object that measures 150 x 150.This will be a pretty big icon

Go to the blending mode options and apply the shadow effects as shown below. Do not close the window you are not yet done move on to the next step.

Go to the colour overlay mode select a color that you like and apply it . Move on to the next step. Don’t close the blending options window.

Go to the inner shadow option and select a color darker then the one you had applied using color overlay option. Remember, it will look nice if the color belong to the same family as we are add depth to the icon.