Take the following tool and represent an ellipse colored in 3BA1EA.

Create Futuristic EyeBall in Photoshop CS

Create Futuristic EyeBall in Photoshop CS

The Opacity on the layers should be of 40%.

Create Futuristic EyeBall in Photoshop CS

Now
we should represent a ring (selecting first the same instrument and representing a circle along the edges and keeping pressed the Alt button erase the middle of the figure).

Create Futuristic EyeBall in Photoshop CS

Create Futuristic EyeBall in Photoshop CS