For your first step Create your design as you like.
Here i create new image with Image size (width=283, height=182) and background color
"white" in GIMP.
Now Select Test Tool(It is used for Create are Edit Text Layers) in Toolbox.Then GIMP Text
Editor box will appear,In that box Write Text and close that box.After that Apply Font,Size and Color
to that Text.
In my example I take another Transparent layer with same Width and Height and repeat above step
once again. and merge(After Right click on the layer and select Alpha to Selection(Replace the selection with
the layer's Alpha channel) then apply Blend Tool(Fill selected area with a color Gradient) in Tool box.
After Merge(Right click on the layer and select Merge Down(merge the layer with the one below it))
both layers together.
Now Select Ellipse Select Tool in Toolbox and select a elliptical region
mode,Select "Add to the current selection" mode and "subtract to the current selection".
After selection "fill selected area with a blue color" by using Bucket Full Tool in Toolbox.
Our last step,Based on above two layers Now Right click on the layer and select Merge Down(merge the layer with the one below it)
Merge both layers
