Select the next tool
to represent a multicolored circle:
Blending Options-Drop Shadow
Blending Options-Gradient Overlay
Gradient's parameters:
Blending Options-Stroke
Make three copies of the new made layer and make use again of the Free Transform option to change the copies' size. Insert the color on the largest copy:
The parameter of the large copy:
Blending Options-Gradient Overlay
Gradient's parameters:
Using the same instrument, it's possible to represent another multicolored circle:
Blending Options-Drop Shadow
Blending Options-Gradient Overlay
Gradient's parameters:
Blending Options-Stroke
Make a copy of the new made layer and apply the Free Transform option to make it smaller a little and place it the way it is shown on the picture. Place the layers correctly!
Make use of the earlier applied instrument
to represent one more multicolored circle:
Blending Options-Drop Shadow
Blending Options-Gradient Overlay
Gradient's parameters:
More Tutorials: 
