1. Start new document with 450 width and 330 height with white background color. Create New layer. Select Rounded Rectangle tool with 10px radius and draw a large rectangular.
2. Again select rounded rectangle tool with 50px radius and draw two rectangles for handles like this:
3. Merge all three layers, i called it joy pad base. Select it and create new channel in the channel palette. Fill it with white color. Apply Gaussian Blur, set its radius to 5px. Again apply Gaussian Blur but this time with 2.5px.
4. Select Levels by pressing Ctrl+L (Layer >Adjustments > Levels.. Adjust it to make a smooth round curves.
5. Deselect the selection by pressing Ctrl+D. Now select smooth round shape of joypad and press layers palette. Create New layer and fill it with blue shade.
6. Apply Bevel and Emboss
7. Create New layer for top reflection. Set #3333FF as your foreground color. Select Gradient > Foreground to transparent and apply Reflected gradient from top to bottom. Change its layer Mode to Overlay. Apply same gradient for handles.
8. Select Ellipse tool and draw a circle at left side of joypad, apply these effects:
Drop Shadow: Default setting
Bevel and Emboss: Depth = 100, Highlight Mode = 77% and Shadow Mode = 33%
9. Duplicate this circle and move it towards right
10. Create New layer and draw another circle on the left side circle. Apply these settings:
Bevel and Emboss:
Depth = 100
Highlight Mode = 75%
Shadow Mode: 42 % , color = white and mode = Screen
11. Select Custom Shape tool and load Shapes2 from palette. Select shape101 from palette. Apply these Blending Options:
Bevel and Emboss:
Depth = 100%
Highlight Mode = 51%
Shadow Mode = 34%
Color Overlay: #333333
13. Then i add some more buttons and text to it:
14. Final Result:




More Photoshop: