I've decided to change a little bit of layer styles of my Circle.

icon, graphic design schools



icon, graphic design schools

Write any word to finish our icon.

Use simple TYPE tool for this.

icon, graphic design schools

Write some text, for example ?play? and use the setting below the next image.
For this tutorial I used font Pulse Sans Virgin by Eric Mynahan, you can download it from http://www.dafont.com/pulse-sans.font

icon, graphic design schools
  


And the text layer styles.

icon, graphic design schools



icon, graphic design schools

Result.

icon, graphic design schools

Working with final layer order and that's about it.

icon, graphic design schools

Save it in PNG format and enjoy the results.