1) Create a new Image. File > New. 300 x 300, 72 resolution, raster layer, 24 bit, transparent. I use this size alot so you might want to save it as a preset.
2) Add new layer. Layers > New Raster Layer.
3) Click Materials Palette. Change foreground color to #FFC1C1 and background to #6D0F16 or choose your own colors.
4) Click P or the Preset Shape Tool Icon. This is the one that makes vector shapes. Choose Ellipse for the shape. Uncheck Retain Style and change width to 0. Now draw your shape.
5) Click Objects > Align > Center in Canvas.
6) Click Selections > From Vector Object. Promote that selection to it's own layer. Selections > Promote to Layer. You are done with the vector layer you created. I usually just turn it off (click the eye on that line on the layer palette. You can delete it too.
Here is a screenshot of where you should be. It's a big image.
7) Save selection to alpha channel in case you need it. Click Selections > Load/Save Selection > Save Selection to Alpha Channel and ok. Now for Dreamsuite Gel and the fun stuff!
8) Fire up Dreamsuite Gel. Click Effects > Plugins > Auto F/X Software > DreamSuite.
9)Click Special Effects > Dreamsuite Gel > Gel.
10)In DreamSuite Gel there are four Tabs that you need to set options for. The following is a mini shot of the tabs starting with the red lightning bolt.

Effect Controls Tab (the lightening bolt and is usually the default screen you see when you go into the gel area. This controls main effects, color, shape etc.
Surface Controls Tab (looks like a little rock, next to lightening bolt). This controls things about surface like texture.
Environment Controls Tab (next one over). This controls glassiness and reflection type stuff.
Lighting Controls Tab (the light bulb). This is where you play with lighting and shadows.
These are the four control panels that you find in every one of the Dreamsuite Gel Effects. Liquid Crystal works exactly the same way. Learn them and you have it all figured out. Now lets make a pearl.
11) Set the four control panels as in the screenshots.
Effect Controls Tab
Surface Controls Tab
Environment Controls Tab
Lighting Controls Tab
12) Click Save and save this as a preset and you can use it again and just change the color in effects control tab.
13) Click OK and Dreamsuite will apply the effect to the Psp8 image and return you back to Psp8 and the pearl. You now have a pearl! You can frame it or inscribe it. Do what you want. They make great buttons and adornments. Make smaller rounder ones and string them together for a pearl necklace. They are very versatile and now you know how to work Dreamsuite Gel!