Take the next tool to insert a circle with the sizes from below.

Blending Options-Gradient Overlay

Gradient’s parameters.

Copy the new made layer 7 times and use Free Transform option again to change where it is necessary (Minimize or enlarge). Place everything out like in the next picture.

Create the same way we did before the fir-tree balls (apply the same Blending Options-Gradient Overlay). Place them out, like in the next image.

Take the previous instrument and represent a circle of large diameter colored in FFF799.

Fill 10% on the layers.
Take the next instrument to make several other figures colored in 752F2B.

All the figures have the same color (apply the method of creating and copying the first figure). Then use Free Transform selection to turn them around. Place them like it is done in the next image.

Take another instrument now and represent a circle with the next sizes.

Blending Options-Outer Glow

Gradient’s parameters.

Blending Options-Gradient Overlay

Gradient’s parameters.

Take the next instrument to create a new element with the color 6E9F32 and next sizes.

Blending Options-Stroke

The last instrument will help us to picture one more element colored in 8CC43D.

Blending Options’ parameter Stroke is the same.
Using the following instrument , represent three stripes of the same color – 753735, like it is done below.

Make the same way another figure colored in 00B8F1.

Take the next instrument to picture other three stripes colored in 753735, like next image demonstrates it.

Insert one more element colored in FCF100.

The next instrument will draw other three stripes colored in 753735, like below.

Take the next instrument and draw a small bow on each of the boxes. On the yellow box must be a bow colored in 92278F, on the green one – a bow with the color FEF200, on the blue one – ED1B24.

The final result!