I don't know much a bout it in Illustrator. Most of people who can design sure they will draw this in Illustrator. But I hope this tutorial could bring you new thing with Photoshop. No need to talk much about this. let start now.
Create a new document size: 1179 pixels x 1179 pixels and solution 300 pixels. As what I have told before I like to use big solution because it can help to make my image more clear.
After a new layer has created give a Gradient Style like below.
use your pen tool to draw a hat or if you like your own hat please do it. It can save your time too. After you draw create new layer then fill color what ever you like and give some style like Bevel and Emboss
* style: Inner Bevel
* Technique: smooth
* Dept: 71%
* Size: 6%
* Soften: 6%
And add Gradient like image. I hope you can read the image.
Then here it is
Press U select Elepse Tool to draw a cycle and give some style like the old one just now I did.
It should look like this after I had edit my style. I copied old layer style to this one. If you like you can do that by right click on that layer select copy layer style and past the layer you want. That's it.
Then copy that cycle layer by press Clt + J to make a new layer and transform it smaller put it on the top and edit the Gradient style. See image.
Now we got a black hat. Again use your pen tool to draw a small bat and copy your layer style.
And draw the 3 red cycle note. I think it won't hard to do that. I know you can because you know well about Photoshop.
Type text as vector magic and make it as a phrase then vertical . Go to filter choose distort and shear
hear the result after shear.
Duplicate this shear layer in to 2 and reflex it then give some outer glow.
* Blend mode: color dodge
* Opacity: 83%
* Technique: softer
* Size: 24
merge that together and duplicate again but this time give it a black color no outer glow and opacity only 30% make it small or bigger a bit to become a shadow.
new thing, draw some thing which is along the vector magic way and give some style.
* Bleng mode: screen
* Opecity: 100%
* Color: white
* Technique: softer
* Size: 84
* Blend mode: normal color is the same or similar to the vector magic phrass
* Opecity: 39
Then you will have you drawing like this image.
Move it into vector way. Then the color will appear.
Make some light by giving the same layer style at around that light as seen in image.
Copy and pass it around inside the hat. then your shine light will give a cool effect.
How do you feel now. It is almost finish. Add some brush light on it. Press B and go to brush setting. Set as the same or what you like.
Start brush now and you will have.
The final just make a black shadow on below all the layer. Here we got the result.
Don't forget to share it to your friend but please do not copy. Prohibited is your dicision. I like to recieve commnet worth or good are welcome. Please do it. Greeting from Cambodia. Sary