Rainbow Lollipop
Final Image Preview
Steps
1. Make a new canvas sized around 455 by 420 pixels. Use the gradient tool with #29c7ca and white as the colors (the gradient you click on should go from white to the teal color). Click on Radial Gradient and make sure Reverse is checked. Drag the gradient from the approximate middle to one of the corners so it looks like this.
2. Use a 300px soft white brush to extend the white in the middle to the upper right corner. Double click on the layer for the Layer Style and click on Pattern Overlay and use a diagonal pattern like this one below and Soft Light at 50% opacity.

3. Copy and paste in this rainbow lollipop. The original photo was from sxc.hu, but I edited it for this tutorial. :) Use the magic wand tool or quick selection tool to get rid of the white around it and the eraser tool to touch up if needed. Move it down toward the bottom at the edge of the white area like so.

4. Go to Layer- Duplicate Layer. Then go to Edit- Free Transform and make the lollipop about 75% of the size (change W: and H: to 75). Also tilt it a little sideways and move it with the Move Tool so the sticks are just touching.

5. Duplicate this new layer and repeat the process you just did on this lollypop and one more. You should have 4 lollipops total. Now go to Layer- Merge Down 3 times so all the lollipops are merged together on one layer.

6. Make a new layer behind the lollipops. Click on the Line Tool and change the weight to 20px and use the eyedropper to get the red from the lollipop. Hold down shift and make a straight red line coming out of the first lollipop that starts just at the edge.

7. Repeat for the other colors. The stripes should overlap a little bit. Repeat the rainbow stripes for the other three lollipops but use a 15px line for the second one, a 10px line for the 3rd, and a 5px line for the last one.

8. Make a new layer above everything and use varying brush sizes in white to draw sparkles around the lollipops.

9. Add white text in Arial Rounded over the rainbows, and use Free Transform to tilt it. Right click the text layer and add a standard drop shadow with Overlay for the blending mode. I also burned the edges of the blue background and the rainbow stripes. Just add an Overlay drop shadow to the stripes and lollipops, and you're done. :)