Alright today following with the Hippie mood (see Hippie Wood Text), we are going to create a nice Peace And Love Hippie Symbol, in a very hippie way so, let's begin.

Step 1:

Make a new White Background 350x350 pixels document, we a re going to make an Oval shape so you better use a symmetrical (same height and width) canvas.

Step 2:

Select your Custom Shape Tool in under your Tool's Menu.

And in the top menu, on shape select the Circle Frame shape.

Note: If you can't find the Circle Frame and don't know how to load it, just...

Click on the little right arrow:

Then select the All option, and voila! There's your Circle Frame shape.

Ok, so now that you got the shape, draw a pretty big circle like ours, to make it just right and symmetrical just hold SHIFT while you are drawing it.

Step 3:

Select your Pen Tool

Now you have to Draw a few lines, this is pretty easy but will need to now a LITTLE of how to use the Pen tool.

Note: To modify a straight line with the pen tool, just select the Add Anchor Point Tool and then just drag it until you got your line the way you want it, GOOD LUCK!

Mid Line:

Side Lines:

You can create two side lines, or you can create one and duplicate it, then Right Click - Free Transform - Flip Horizontal, and you got your symmetrical side lines.

Step 4:

Now we are going to merge the layers, so we can create an overall effect for all Peace And Love Hippie Symbol pieces, so holding CTRL click all the layers that we want to merge (only the symbols ones not the background) and Right Click - Merge layers.

Step 5:

Ok this is the effects part, Double Click your new Symbol layer so we can open the Blending Options menu.

We are going to use, Drop Shadow, Inner Shadow, Inner Glow, Bevel And Emboss, Contour and Pattern Overlay, watch carefully the settings.

Drop Shadow:

Inner Shadow:

Inner Glow:

Bevel and Emboss:

Contour:

Pattern Overlay:

The pattern that we are using it's called Nebula, you can find it under the "Patterns" group.

Note:

If you can't find the Pattern just click on the Pattern Menu and select the little right arrow...

Now select the Patterns options and DONE! Your Nebula must be there.

Now your Pace and Love Hippie Symbol must look like this:

Step 6:

Final Step! Press CTRL + SHIFT + N (new layer) to create a new layer, now merge it with your symbol layer (see Step 4 if you don't know how to merge layers)

Now go to Filter - Filter Gallery...

And in the Brush Strokes menu pick Spatter, and put the settings like ours:

And DONE your Peace and Love Hippie Symbol is ready.

Groovy isn't it?