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 and rotate.
Press Ctrl+T. Right click the layer and select warp. Adjust nodes to get the shape as shown.
Create two ellipses for the ear of the horse using elliptical shape tool.
Create a rounded rectangle using rounded rectangle shape tool.
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.
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.
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.
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.
Repeat the above steps to create leg on the other side of the horse.
Use pen tool to create a folded leg. Move this layer below all the layers in layer order in layer palette.
Using pen tool create a shape as shown in the image below. Fill with a lighter color.
Complete the feet by creating a shape in black color as shown in the image.
Similarly complete the feet on other legs.
Create a rectangle for the tail Press Ctrl+T. Right click the layer and select warp. Adjust nodes to get the shape as shown. Using rectangular shape tool.
Using pen tool create some hair above the horse neck.
Using pen tool create mouth shape for the horse.
Use circle tool to create eye and nostrils.
Use brush tool to create some random angular lines above the neck.
Select brush tool with a feathered setting. Apply a brush stroke in a new layer over the horse body.
Change the layer mode to overlay.
Apply a blue green gradient on the background.
Select and merge all layers. Duplicate layer. Enable lock transparent pixels from layer palette. Press Ctrl+T. Right click the layer and select distort. Fill it with black color. Adjust nodes to create a perspective shadow.






More Photoshop: