Start with a square document, by square, i mean a document with the same size width as its height, for example, mine is 600px by 600px.
Now use the rectangular marquee tool and draw a selection about 100px high, then fill it with a color, mine is dark blue.
Now, make another selection about 50px just above the previous fill and fill it a lighter shade of the previous color, my case, its light blue. See image below.
Now make a selection intersecting the 2 colors, so you are choosing half the lighter color and half the darker color. see image on the left to see what I mean.>
Now go to Filter->Pixelate->Color Halftone.
Settings:
Max. Radius: 10px
set "0" for all 4 channels.
Now use the marquee tool again and make a selection around the colored area of your image, then go to Select->Feather->3px;
Now go to Filter->Blur->Motion Blur
Settings:
Angle: 90
Distance: 60px
Then Go to Filter->Sharpen->Sharpen.
Press CTRL+F twice to reapply.
Now press CTRL+D to deselect.
Now go to Filter->Distort->Polar Coordinates >
Now you can just use the circular marquee tool to cut out the round tube and paste it on any background you like.
Thats what I did to my image and I also applied this bevel and embossed setting (Layer->Layer Style->Bevel & Embossed):
Click here to download .psd file
Another one I made simply by duplicating the tube layer and changing its hue and saturation (image_>Adjustments->Hue Saturation) settings.>
