Step 1
Start with 2 layers. Make the bottom layer a solid color and the top layer an image.
Duplicate the layer with the image.
Select the layer, right click, ‘duplicate layer’, OK.
Step 2
Making sure you are on the duplicated layer, select the image by going to select > select all. Then from the edit menu, go to transform > flip vertical. Move the flipped image down so the bottoms of both images touch.
Step 3
While the image is still selected, go to edit > transform > warp.
Warp the bottom of the image.
Step 4
Select the layer opacity to less than 60%.
Take a large diameter eraser tool with a feathered edge and erase a little bit of the bottom to make it look more realistic and you are finished.
