This tutorial has a better way to design a pencil so follow this example to learn how to make it.
New File: Create a new file.
Rectangle Shape: Choose black color and Rectangle tool (U key) to make a rectangle shape.
Pen Tool: Choose "EFA555" color and Pen tool (U key), make points as I have done here.
Pen Tool: Choose black color and Pen Tool (U key) to make nib of the pencil, make point as given below.
Rectangle Shape: Choose "EFA555" color and Rectangle tool (U key) then draw a shape back of the pencil.
Take a New Layer: Click bottom of the layer window.
Draw Lines: Draw some lines with "B51839" color by using Brush tool (B key). If you are not able to draw straight line, use hold shift key and draw straight line.
Make Rubber: Choose "E52247" color and Pen tool (P key), make some points to show rubber as here.
You will get it.
Recommend the tutorial