First of All create a new document and then click on Ellipse Tool(U) and draw a red shape like this:

Now lets style the shape, go to Layer > Layer Style and select Drop Shadow and do the following changes:

Select Inner Glow go to Layer > Layer Style and select Inner Glow and do the following changes:

Select Gradient Overlay go to Layer > Layer Style and select Gradient Overlay and do the following changes:

Select Stroke go to Layer > Layer Style and select Stroke and do the following changes:

Your shape will be look like this:

Now lets draw the download icon, click on Custom Shape Tool(U) and then Right Click on the background and select Arrow 9 from the menu, as show below:

Then draw the Download Icon Vertically, as show below:

Now lets style the Arrow, go to Layer > Layer Style and select Stroke and do the following changes:

Now Write ‘Download’ at Right side of the button, as shown below:

Now lets style the Text, go to Layer > Layer Style and select Gradient Overlay and do the following changes:

Select Drop Shadow go to Layer > Layer Style and select Drop Shadow and do the following changes:

Select Stroke go to Layer > Layer Style and select Stroke and do the following changes:

Your text will be look like this:

Now lets make a shadow for the button, click on Ellipse Tool(U) and draw a black shape like this:

Now lets style the shadow, go to Layer > Layer Style and select Gradient Overlay and do the following changes:

That’s it we are 95% done:

Click on Elliptical Marquee Tools(M) and draw a selection over the button, as shown as below:

Click on Gradient Tool(G) and change the gradient like this:

Hold the Gradient from top to bottom as shown below:

And that’s it we are done, your final result will be look like this:

You can also use other colors: