Duplicate base twice. Set the first to Screen at 80% and second to Soft light at 40%.
The image was too blurred so I sharpened it once (Filter > Sharpen > Sharpen):
Now to the coloring. ^^ Layer > New adjustment layer > Selective color.
Again, Layer > New adjustment layer > Selective color.
And again, Layer > New adjustment layer > Selective color.
Now go Layer > New adjustment layer > Brightness/Contrast. Set Brightness to +10.
Layer > New adjustment layer > Hue/Saturation. Set Saturation to +8.
One last time, Layer > New adjustment layer > Selective color. ^_^
We're finished with the coloring, you can stop here if you want. But I wanted to get rid of the black border, so come on:
Merge your layers (Layer > Merge visible). I'll use a texture made by luux_lu:
And just reminding, you can use any texture you want in this step.
Copy it and paste over your icon. Duplicate your base and draw it to the top.
Use the Rounded rectangle tool to create a rounded rectangle over the icon. Leaving the black border outside, of course. ^_^
Right click and select Make Selection. Click ok.
Now select the Magic Wand Tool. Right click again on the selection and select "Select Inverse".
You have the border on selection. Grab the copy you've made of your base and draw it to the top. Now you must be facing smily Reita and the border around him. ^_^
Click on the texture layer. Press Ctrl+X.
Now click on the copy, which is in the top of the layers. Press Ctrl+V.
You must have something like this. Now merge your layers again and you're done! ^_~
Comments are welcomed, and I'd love to see another results! ^_^