1. Choose your image. In this case, I chose this photo of Tori Amos.
2. Crop (100x100px, resolution: 72) and sharpen (Filter >> Sharpen >> Sharpen)
I cropped in a way so I'd have a black stipe on the side for the text (aka pull your crop tool out of the image border)
3. Create a new layer and add this gradient from zephia and set it to Screen 100%.
4. Create another new layer and fill it with #734C20. Set this layer to Difference 100%.
Our icon so far
5. Create another new layer and add another gradient from zephia (it's the same gradient, only from a different angle) and set it to Linear Light 100%.
6. Time for text! I used Franklin Gothic Book, size 19, the anti-aliasing method (the thingy next to the font size) set to smooth. Layer opacity: 58%
7. Create a new layer (last one! I promise!) and press Ctrl + A (aka select all). Then go to Edit >> Stroke. Width: 1px, color: #BC9F7F, location: inside. Leave the blending mode and transperacy untouched. Click OK.
8. On the layer panel, set that layer's opacity to 58%.
And voila! We have this icon.
And for those who are interested, here's the layer pallette after finishing the icon.