Using the same instrument, represent the next ellipse with #4472FC color.

Represent the next layer of the tree toy. For the beginning select the Ellipse Tool (U) and draw the next ellipse.

Use then the Convert Point Tool to change the shape as shown. The layer has the color #092894.

Applying the described above method, try to represent another shape on the toy.

Set Fill to 0% for this layer and click on Add a layer style icon from bottom part of the Layers panel, select Inner Shadow.

Apply Gradient Overlay :

Click in the color bar to open the Gradient Editor and set the color stops as shown. Click OK to close the Gradient Editor dialog box.

We’ve got the next result:

Using the Pen Tool (P), it’s possible to draw the shadow on the right. Choose the color #152C8A.

Next represent the ball’s support, applying the Rectangle Tool (U) draw the next rectangle, the color is #08258D.

Select again the Pen Tool (P) to draw the next element of the ball’s support.

Set Fill to 0% for this layer and click on Add a layer style icon from bottom part of the Layers panel, select Drop Shadow.

Apply Gradient Overlay :

Click in the color bar to open the Gradient Editor and set the color stops as shown. Click OK to close the Gradient Editor dialog box.

We’ve got the next result:

Next we’ll create the ring on the ball’s support. Use the Ellipse Tool (U) to draw the next ellipse. The shape may be corrected with the Convert Point Tool. This new made layer must be situated under the previous layer on the Layers panel.

Set Fill to 0% for this layer and click on Add a layer style icon from bottom part of the Layers panel, select Drop Shadow.

Add Stroke:

Select Fill Type – Gradient, click in the color bar to open the Gradient Editor and set the color stops as shown. Click OK to close the Gradient Editor dialog box.

We’ve got the next result:

Combine in a group all the layers composing the Christmas ball (press CTRL button to select the necessary layers and hold on the left mouse’s button while dragging the selected layers on Create a new group icon from bottom part of the Layers panel). Make two copies of the represented group and then select Free Transform (Ctrl+T) command to change the copies’ sizes, placing them under the layers belonging to the blue ball.

Change the Layer Styles for the copied layers to get a red and green nuance for the copies.
The settings for the red ball. The primary layer: Inner Shadow:

Gradient Overlay :

Click in the color bar to open the Gradient Editor and set the color stops as shown. Click OK to close the Gradient Editor dialog box.