Insert the a kind of ornament now on the ball’s support element, using in this case the Rectangle Tool (U) and the Ellipse Tool (U). Firstly we need to represent a rectangle using the Rectangle Tool (U), then hold Alt button or select Subtract from shape area (-) from Options bar and draw 4 ellipses using the Ellipse Tool (U) to cut from rectangle shape exactly as on the picture below:

Click on Add a layer style icon from bottom part of the Layers panel and select 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.

Add Drop Shadow:

We’ve got the next result:

Next we’ll draw a highlight on the Christmas ball, using the Ellipse Tool (U).

Insert the mask on the layer by choosing Add layer mask on the bottom part of the Layers panel and choose the Soft Round brush of black color (set Opacity to 60% in Options bar).

Paint in the mask using this brush to hide the bottom part of the highlight the same way demonstrated below:

Create a new layer and select the Soft Round brush of white color mentioned previously (brush Opacity – 15%) to represent the shining effect inside the highlight.

Now we have to represent the ball’s shadow by represent for the beginning a new layer (Create new layer) on which we need to apply the Soft Round brush of black color (Opacity – 10%).

The shadow’s layer we’ll place under the ball’s layers.

Set Fill to 87% for this layer.

Next we’ll represent the next shadow’s layer, using the Ellipse Tool (U) to draw firstly a small circle of #48090B color. This layer must be situated above the very first shadow’s layer, but under the ball’s layers.

Go to the Mask Panel and set Feather to 20px (in case if you can find Mask Panel on the right side just activate it on main menu Windows > Masks):

Set Fill to 90% for this layer.

Now we’ll represent the ball’s shining on the bottom part. This time we’ll apply the Ellipse Tool (U) to draw the next circle of the color #7E1414. The layer must be placed under the ball’s layers, but above the shadow’s layer (on the Layers panel). Go to the Mask Panel and set Feather to 20px.

Set Fill to 80% for this layer and change the Blending mode to Color.

Combine in a group all the layers composing the Christmas ball, its shadow and the shining effect (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 a copy of the group we’ve got and select the Free Transform (Ctrl+T) command to make smaller the copy and to place it the way from the picture. The layers containing the shadow on the copy must be situated under the layers composing the very first ball:

Next we have to draw the thread for the Christmas ball, choose the Pen Tool (P), set the drawing mode on Shape Layers in Options bar and draw the next shape as shown. The thread’s layer must be situated under the ball’s layers:

Go to Stroke option on your Options Bar when you have the shape active. Use drop downs to add color for Fill and Stroke options, set Width and Dashed outline for thread shape.

Make a copy of the recently made thread’s layer and choose the Free Transform (Ctrl+T) command to make the copy smaller and place it the same way demonstrated on the next picture, under the ball’s layers:

Click Create new fill or adjustment layer from bottom part of the Layers panel and click to Curves to adjust the curve shape as shown to make a little color corrections.

We’ve got the next result:

Create a new layer and select on it the Soft Round brush.

Use this brush to paint above the balls with the color #DDD900 (brush Opacity – 20%).

Set the Blending mode for this layer to Overlay.

Click Create new fill or adjustment layer from bottom part of the Layers panel and click to Curves to adjust the curve shape as shown to make a little color corrections.

We’ve got the next result:

Let’s paint now above the threads. This time create a new layer and use the Soft Round brush of the color #FFF690 (bursh Opacity – 30%).

We’ve got the next result: