Open a new file | 600 x 300 72 dpi

Using the custom shape tool (u) . And make sure that the Ellipse Tool is selected. Draw the object that measures 150 x 150.This will be a pretty big icon

Go to the blending mode options and apply the shadow effects as shown below. Do not close the window you are not yet done move on to the next step.

Go to the colour overlay mode select a color that you like and apply it . Move on to the next step. Don’t close the blending options window.

Go to the inner shadow option and select a color darker then the one you had applied using color overlay option. Remember, it will look nice if the color belong to the same family as we are add depth to the icon.

This is a very important effect to give your icon a beautiful inner glow..Please follow the setting and values in the below given image. You may now close the options window

In step we are going to add highlights to the image. At first you need to take selection on of the circle and open a new layer (ctrl + shift + n). Set your colors to default (D) and flip the colour so that white become the foreground color (X). Go to the gradient tool option (G) and click on it ..You will find a white to transparent option select that…

Apply it on the top and bottom you should get this effect. Make sure you pull the gradient tool not too far.. Because it will cover the entire icon.

This is an easy step.I am going to select a webdings font the letter is “?” and colour the inside. You can do the same as give below..

This step we are going to add shadow manually to the content of the icon. You have to merge the font and the color layer and create a new layer with selection and fill this colour.

Move this layer behind the colored layer and using transform tool (CTRL + T) skew it in this direction as shown below.

After transforming that layer..Go to filters>blur>Gaussian blur and give is a 1.0 value blur.We are almost done now. Add the text make sure you use nice bold font .I used Arial.

Select the icon base and go to the gradient button after having your foreground color to white. Select the same option as you did before and apply the gradient with a radial gradient mode from the middle of the circle to the end. Make the opacity as 40% after you finish applying it ..have this as the top layer

Using transform tool (T) reduce the circle and move it on top. Now select the main icon cicle and inverse select it and delete this selection..

Now we are going to create a simple reflection by merging all the layers (Ctrl+E) without selecting the background and duplicate the merged layer (Ctrl + J). Flip Vertical the duplicate layer and reduce opacity to 40% and erase the unwanted areas . There you go your very own WEB 2.0 icon is ready

Now you can add this ICON to your website background and it will look cool! Try this out your self