Creating a magic brush logo

Start by creating an ellipse using elliptical shape tool.

Create another small ellipse using elliptical shape tool.

Select elliptical path using direct selection tool. Select convert point tool and click on the left most node of the small ellipse.
Adjust the nodes using direct selection tool to give a shape of brush hair.
Similarly adjust the big ellipse shape.
Double click the layer to open layer style window. Apply layer style with the settings shown.

Apply the same layer style to the brush hair.
Duplicate the bigger shape layer and scale down. Remove the layer styles.
Rasterize the layer. Enable lock transparency pixels from the top of layer window. Fill it with a white to black linear gradient.
Change the layer mode to screen.
Using pen tool create a shape for highlight on he brush hair.

Rasterize the layer. Enable lock transparency pixels from the top of layer window. Fill it with a white to black linear gradient.

Change the layer mode to screen.

Create a sparkle shape using pen tool.
Duplicate the shape, resize and fill with different shade of blue.
Apply some glow to the sparkles.

 

Using pen tool create a path symmetrical to the brush's curve.
Using text tool click and type the company name on the path.
Similarly create a path for punch line and type text on it.