Draw a white circle with Ellipse Tool. Than with Elliptical Marquee Tool select like in the image and press delete . Go to Edit - Transform - Scale and set 70%. Set the layer opacity from 100% to 85%. Than go to Blending Options and set Outer Glow spread 14 and size 16.
We are almost done.
Step 13 - Final Step
Write "psd-dude.com wishes you a Merry Christmas!" with this settings:
Than right click and choose Rasterize Type. Go to edit - Transform - Perspective.
For the final touch go to Blending Options and do the following setting for this text layer.
This is the result I really hope you like it!
And of course I am wishing you a Merry Christmas!