• Open new Document (280*250 px).
• Insert any background. I used a green leaf.

Create circle using Elliptical Marquee Tool  and shift key.

• Create a new elliptical selection and subtract (C) from him it other small elliptical selection.

• Fill it with light red color in a new layer. Go to Filter > Blur > Gaussian Blur (7-8)

• Create new elliptical selection.
• Fill it with linear (white/black) gradient in a new layer.
• Adjust Screen Blending Mode for this layer.

• Draw a backlash between wings using Pen Tool and Convert Point Tool.

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