For this tutorial we use butterfly image:

Copy our layer and place it under the main layer. Then in the menue choose Transform > Flip Vertical. Then press Shift and in the same time move our image down.

Choose Blending Options by clicking over our layer... Then choose Gradient Overlay as it shown below:

Apply Filter > Blur > Gaussian Blur:

As a result we have to get the following image:

Step 1. Creat a new image. Go to Custom Shape Tool choose i in the Shape field. In the figure functions use Fill Pixels.

Step 2. Choose the colour of a figure and draw it.

Step 3. Then do Layer - Duplicate Layer and rotate it to 180 degrees by Transform - Flip vertical

Step 4. To make a reflection use Quick Mask. And fill the image as shown on the image below:

Step 5. Then leave Quick Mask by clicking Q And press DEL.

Step 6. You can adjust your image like this one :)