PURPOSE: This tutorial is prepared to achieve the below shown 3D effect rings in Photoshop.

PROCEDURE:

Step 01: Take a new document of 720 x 576 pixels with default resolution of 72 pixels, and save the file as 'Effect Rings'.

Step 02: select ellipse tool and draw some circles by holding shift key.

Step 03: Right click on the layer and select Rasterize layer.

Step 04: Fill some bright colors to the circles and fill black to the remaining area.

Now, your photoshop image will look like below..

Step 05: Duplicate the layer and Apply radial blur filter for the duplicated layer.
Go to filter menu > blur > radial blur and change the following settings.

Step 06: For the same layer, apply the stylize filter.
Go to filter menu> stylize and change the following settings.

Now, your photoshop image will look like below..

Step 7: make two more duplicate layers of the layer “1” and I have named it as “duplicate 1”
and “duplicate 2” as shown below.

Set the blending mode of the top three layers to “screen” blend mode.

Step 8: scale up the element in the “duplicate 2” layer (hold shift and alt key while scaling)
and change the opacity and fill to 50% and 80% respectively.

Step 9: scale down the elements in the layer “1” (hold shift and alt key while scaling)
and change the opacity and fill to 70% and 90% respectively.
For “duplicate 1” layer change the opacity and fill to 60% and 90% respectively.

Step 10: Select the “layer 2” and change its blend mode to screen and select background layer,
Go to filter menu> render> clouds, change the saturation and lightness value as shown below.

Your final effect is ready to enjoy.