Start by creating this shape with ellipse tool :
Apply gradient overlay as shown :
Draw a circle with ellipse tool. Send it back by pressing ctrl+shift+{
Apply similar gradient overlay in it :
Duplicate (press control+j ) and place the layer as shown :
Draw this #A96620 colored shape with pen tool :
Duplicate and place it as shown :
Draw 2 #743B1E colored circles with ellipse tool :
Draw a black color circle in the left eye :
Draw a white color line with brush tool after creating a new layer (pressing shift+ctrl+n).
Draw another black circle on the right eye :
Draw a line with brush after creating a new layer :
Reduce the opacity of this layer to 45%
Draw another line and create a new layer :
Reduce the opacity to 64%
Draw the third line in right eye with brush after creating a new layer :
Draw this shape with ellipse tool :
Apply gradient overlay as shown :
Draw a black color circle :
Draw another black color shape with ellipse tool :
Apply gradient overlay as shown :
Draw the hand with pen tool :
Apply gradient overlay as shown :
Duplicate, flip the layer and place it as shown :
Draw this shape with pen tool :
Add gradient overlay :
Duplicate and place it as shown :
Draw this shape :
add gradient overlay :
Duplicate and place it as shown.
Draw this white color shape with ellipse tool :
Add inner shadow as shown :
Duplicate and place this layer as shown. Our teddy bear is ready :
The illustration shown below is just an example of using the teddy bear in your design projects :)


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