Step 1 - Starting Out
Create a new 600x150 document. Fill the background with an extremely light orange color.
Step 2 - Rounded Rectangle
Create a base for your rounded rectangle on a new layer. Drag the rounded rectangle tool across the image, and get something like the image below (use a radius of 25px.)
Step 3 - Selection
Hold down ctrl and hit the thumbnail icon on the layer in the layers window. This will create a selection of the shape for you to work with. Next, take the "Rectangular Marquee" tool, and while holding down alt, drag from the center to the right and let go. This will remove the bottom half of the selection, giving a selection like the image displays below.
Step 4 - Gloss
Take the "Gradient" tool, and with a white to transparent gradient, make a glossy effect within the selection.
Step 5 - Rounded Rectangle (Square)
Now we're going to head on to the middle rectangle. Create a new layer. Take the rounded rectangle tool once again, but this time hold down shift while dragging it so you can make a perfect square like in the image below.
Step 6 - Gradient Overlay
Apply the gradient overlay to the block we just made. Do this by right-clicking on the layer and going into the blending options.
Step 7 - More Gloss
Follow the same gloss technique we did in step 3, but do it with the square block layer instead.
Step 8 - Stroke
Go into blending options and add this stroke for the block. It is a medium grey color.
Step 9 - Text
Select a thick font, and create some links for your site. Space them about 3 spaces apart, and make the color of them a bright grey. Be sure this layer is under the gloss layer, that way the text can still obtain gloss.
Step 10 - Text Continued
Type in your website's text in the left side with the light grey color. Once you do that, highlight a part of it and change the color to a nice orange to make it stand out more. I made mine italics so it'd look more unique. Be sure this layer is under the gloss layer, that way the text can still obtain gloss.
Step 11 - Adding Your Logo
Add your logo to the center of the image. In my case, I use a dark grey "U" with an orange stroke and outer glow. You can mess with this one all you want. Be sure this layer is under the gloss layer, that way the logo can still obtain gloss.
Step 12 - Active Link
Highlight the "Home" text and change the color of it to an orange color. This will become our "active" link.
End! Job well done! :)