1. Open a new image.
2. Go to Elipse Tools.
3. Chose Draw Circle.
4. Draw a Circle.
5. Go to Effects -> 3D Effects -> Cutout.
6. Chose Vertical Size - 20, Horizontal - -20, Opacity - 90, Blur - 100.00.
7. Press OK
8. Copy the Image
9. Go to File -> Save As
And you should have something like this:
