Start by creating a rounded rectangle using rounded rectangle shape tool.



Press Ctrl+T. Right click the layer and select warp. Adjust nodes to get the shape as shown.



Enable add to shape area form the top bar.



Create a rectangle using rectangular shape tool. Press Ctrl+T. Right click the layer and select warp. Adjust nodes to get the shape as shown.



Duplicate path and flip horizontal. Place for the other arm.



Double click the layer to open layer style window. Apply layer style with the settings shown.







Create a rectangle using rectangular shape tool. Press Ctrl+T. Right click the layer and select warp. Adjust nodes to get the shape as shown.

Double click the layer to open layer style window. Apply layer style with the settings shown.





Similarly create two dark color bands one for each arm.



Create a circle using elliptical shape tool. Enable intersect shape areas form the top bar. Create an ellipse using elliptical shape tool.



Double click the layer to open layer style window. Apply layer style with the settings shown.





Create a rectangle for the collar using rectangular shape tool. Press Ctrl+T. Right click the layer and select warp. Adjust nodes to get the shape as shown.



Complete the collar in similar way.



Create a vertical line using line shape tool. Apply the same layer style we used for the collar.



Select and merge all the layers. Scale down the layer to the icon size. Apply some drop shadow.