Step 1

Open photoshop, Load you image on the stage.Create a new layer.

In the new layer, draw a circle using the Ellilipitcal Marquee Tool
Once the circle is drawn use the Gradient Tool using the color black and white, moving from the left side of the (center) of the circle to the right side (center)and apply the gradient to circle- You should have something like this

Step 2

Now select Overlay in the layer drop down menu-

Step 3

Go to layer on the menu bar then to layer styles - Blending option

A different bar shows up select drop shadow. Set your opacity to 50. Angle to 156. Distance to 4. Speed to 0 and Size to 3 View layer styles

Step 4

Now select Inner Shadow. Set your opacity to 50. Angle to 120 .Distance to 4. Speed to 0 and Size to 4 -view layer styles 2.

Hit OK to apply all changes. Important make use the gradient tool is still selected and go in the opposition direction of the gradient you did in the beginning.

Step 5

You can then use the LIQUEFY TOOL to apply more realistic effect to the water drop. or

You can how resize the water drop and move it to were you want it to be

Step 8

To give it more highlights and make it shinier, hit the 'Gloss Contour' box. Another screen pops up where you can alter the mapping. Just click and drag the black line until its to your liking.

Step 9

Final step, go back to the background laye ( your image)r and click the Burn tool. Now with a small soft brush, lightly go around the end of the earrings that go into the skin. This adds a little more realism... enlarge for better outcome