Let's get this thing started!
Step 1: Open the file. I reccomend you to open a file with only 1 photo object, as an example, a person.
Step 2: Duplicate the layer (Right click --> Duplicate)
Step 3: Use the Magic Wand Tool (W) to click the white background of the first layer. Then Select --> Inverse (Shft+Ctrl+I). Use the Move tool (V) to drag the object to the copied layer. Place it exactly on top of the same picture.
Step 4: Click on the background --> delete layer
Step 5: Duplicate the layer twice. Then you’ll have 3 no background-ed layers
Step 6: Let’s start with the first layer. We’re going to change the foreground colors into purple and white. There should be 2 color boxes, change one into purple (or any color you want), and the other one to white just by clicking each box. Then OK
Step 7: Click on the “Create new fill or adjustment layer” --> Gradient Map --> OK. Then type Ctrl+Shft+E to blend the gradient map with the object
Step 8: Do the EXACT same steps to the 2nd layer. Except this time, the color should be orange and white (or any different color you want)
Step 9: Now drag the 1st & 2nd layer to the 3rd layer (The un-edited no background-ed layer) with the Move Tool (V). The purple colored layer should be below the orange colored layer. Position it in a mixed order to create the effect. I’m going to rename it 1,2, and 3 to make it easier
Step 10: We’re going to change to change some things to create the effect.
“1” should be set its Opacity to 71%.
“2” should be set its Opacity to 78%.
And “3” should be set to “Color”
Step 11: Click the Ellipse Tool (U) to create an ellipse. Set the color to orange (The orange color should be the same as the orange object). Then use the Move Tool (V) to place it below “1”.
Step 12: Use the Eraser Tool (E) and set the brush hardness to 0%.
Then click on the ellipse --> OK.
Start erasing the edges of the ellipse. This part might be tricky to get the perfect round shape.
Also erase a little bottom part of “2” to create a blending effect
Step 13: Click the Horizontal Type Tool (T) to create the text. Here, i used the “DIN BLACK” font.
Then use the Move Tool (V) to place it above “3”. Then change it into Soft Light