Create a new file with 345x345 px and 72 dpi. Make a figure with instrument, radius must be of 40px.
Blending Options’ parameters are shown next table.







That is what you must get:



Create many circles now, with different Stroke option, applying instrument. Fill 0% on the layers’ window and don’t forget about the color. It must be FEA900.



Create a new layer now, having the next instrument and paint out in white everything that is situated beyond the picture’s bounds.



Take the next instrument to picture a figure of red color, like that one from below.



You may find Blending Options’ parameters here.



Take again the previous instrument and draw this element.