First create a new file 550x400 px and 72 dpi.
Draw a circle now, using the instrument
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Now make small circles inside the previous one with the same parameters form the picture.
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In the Layers Window set Fill 0%. Use the function Free Transform to minimize the circles. The last circle has the same adjustments like in the picture.
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The instrument
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Parameters…
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Use the same instrument to create a flame. The parameters are also indicated in the pictures.
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Copy and turn it around horizontally, using Free Transform.
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Add the text in the end with the instrument
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The final result.