Blending Options>Gradient Overlay

Gradient’s parameters:

Next we shall draw the emoticon’s legs. In this case we’ll take the same Ellipse Tool (U), represent the primary layer and then press Alt button to cut out that part demonstrated below, applying simultaneously the mentioned above tool. Next using the Rectangle Tool (U) and keeping pressed Alt button, we’ll cut out one more part from the bottom, as it is indicated on the next image. The layer has this color – #5A93C8

The layer’s parameters: Blending Options>Inner Glow

Blending Options>Bevel and Emboss

Make a copy of the leg’s layer and choose then Free Transform option to turn around the copy, placing it the same way shown below and changing the parameters for the copy – layer with those demonstrated next table: Blending Options>Bevel and Emboss

The emoticon is finished!

View full size here.