You would have seen an animated traffic light on the road, I am interested with this so I have decided to design it. You can also make it by using this interesting example so let's try.
New File: First choose "EFC501" color then take a new file with appropriate size to make this design.
Bevel and Emboss: Go to Layer Menu > Layer Style > Bevel and Emboss and use settings.
Your image should be as here.
Ellipse Tool: Choose Ellipse tool (U key) and draw a circle with black color then again draw a circle with selected red color inside the black circle as given below.
Bevel and Emboss: Go to Layer Menu > Layer Style > Bevel and Emboss and adjust the same values as given here.
You will have this.
Now make duplicate both layer but change the color and adjust as here.
Image Ready: Click on the bottom of the tool bar to go in the "Image Ready". In the image ready you have to adjust the layers by the frame in the animation window as I have done here.
This is the final result.
Recommend the tutorial