Step 1) The first step is to create your canvas. Use the standard size of 120 x 120 px.
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Step 2) Set the layer to a new layer and not the background. This is needed for the effects to be applied.
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Step 3) Add your desired colour. I've used a style from a Web 2.0 Styles pack. You will need to do subtle adjustments.
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Step 4) Some adjustments that you will need to do is add a bevel and emboss. This needs to be very light and added over the top of the style effect.
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Step 5) You now need to add text. Although there is an official font that is used, I can't find it for free. Although I have used Tahoma. Any sans-serif substitute can suffice.
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Step 6) Center the text and enlarge to fit. Make sure it isn't to tight around the edges.
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Step 7) At this point you may need to lock the layers so you can transform both layers with out the need to do each layer in turn.
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Step 8) Transform the layer so there is a small gap on the bottom and right edge.
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Step 9) One thing that you can do that I forgot is add a very subtle colour overlay to the text. This again is in the style pallet of the Web 2.0 pack.
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Step 10) Export and you are done. Looks Ok.
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