Preparations:

We will need 3 images here, a car, a Hello Kitty logo and its face.

You can download the Hello Kitty images here.

All rights of these resources belong to their respective owners.

Step 1 – Setting Up Background:

Create a document of size 750 by 550px.

Set your foreground color to #FF84C3 and background to #AE1D51.

Fill the background layer with a linear gradient top-down.

Step 2 – Forming the Floor:

Create a new layer above the background.

Pick the Rectangle Marquee tool and make a selection on the lower half of the document.

Fill the selection with a linear gradient bottom-up.

Step 3 – Extracting the Car:

Crop out your car from its background using the Pen tool.

Click here to understand more about extraction.

Using the Move tool, place your car at the center of the document as shown in the diagram.

Step 4 – Adjusting Colors:

While you are on the car layer, go to Image > Adjustments > Hue/Saturation. Set the Hue to -55, Saturation to 30, Lightness to 0.

Go to Image > Adjustments > Levels. Set the values to 0,0.85,255.

Step 5 – Defining Pattern:

Open up the Hello Kitty PSD file you downloaded earlier. Hide all other layers except for the face and do a rectangle selection around it. Go to Edit > Define Pattern.

Back to your document and create a new layer above the car. Fill that layer with the Hello Kitty pattern. Go to Image > Adjustments > Invert to turn the pattern white.

Step 6 – Wrap Pattern on Front:

Duplicate the Hello Kitty pattern and hide one of the two layers.

While on the visible pattern layer, go to Edit > Transform > Warp. Wrap the pattern to the car front by shifting the square corners. Adjust the positions of the points like shown in the diagram.

Step 7 – Wrap Pattern on Side:

Unhide the other pattern layer and repeat similar technique used in Step 6 for the side of car.

Merge both pattern layers. Use Soft Eraser tool of size 150px and opacity 50%, fade its border to blend into the car. Concentrate more on those area that seem further away.

Step 8 – Adding Hello Kitty Logo:

Erase to reveal the engine cover.

Drag Hello Kitty logo into the document above all layers. Go to Edit > Transform > Distort the logo like seen in the diagram.

Use Soft Eraser tool of 100px and opacity 50%, fade off the left side of the logo.

Step 9 – Adding the Shadow:

Create a new layer below the car.

Use Soft Brush tool with color #000000 and opacity 80%, paint in the shadows.

Step 10 – Adding the Glow:

Duplicate the car layer.

Select the duplicated layer and go to Filter > Blur > Gaussian Blur. Set the radius to 5px.

Set the Blending Mode of this layer to Screen and opacity 50%. You can increase the opacity if you wish the car to look even more dreamy.

Optional:

You can further add a nice background and some glitters to the car.

Click here to view the final image.