Step 1 - Creating the Ring
I used the gear from the symbol I used for the Igerard.com, but any gear shaped object will work just as well.

Begin by selecting the background using the magic wand selection too l(non-contiguous tolerance 5), then select inverse to select the gear object itself.

Step 2 - Filling the Ring
After you have selected the gear go to create a new
layer named Ring

Then go to the menu Select->Modify then Border, and set the width to 15 pixels.

Fill this with 50% grey, either by Edit->Fill or Shift-F5

You should have something which resembles the images to the left

Step 4-Texturise the Ring
Once again select the background using the magic wand
(non-contiguous tolerance 5) then select inverse to select the gear object itself.

Create a new layer named texture, fill this with a brown rock-like texture, then change the Layer Style to Hard Light.

You should have something that resembles the image to the left.

Step 5- Finishing Touches
To create the symbol itself, I simply used two star shapes, one upside down, to create the rays coming out the back.

I then embossed the rays, by right clicking on the layer and going to blending options, and gave them a Stroke of 3 pixel width.

After that I created a skull symbol in its own layer using an off white colour and the smear tool,

To give the whole thing a primitive feel I used the menu Filter->Artistic->Poster Edges with the
following settings:
Edge Thickness 10, Edge Intensity 0, and Posterization 6.