...just some brushing with a Gun set to 'Overlay' or 'Multiply' blend modes, with some text on it..
It's not particularly horrid, but, even for a beginner, it's simplicity is undesirable.
Using such a simple render kind of puts limitations on your Options, so, there's not really much you can do with it.
Here's What I would do to it:
1.Take the Blending Modes off of the Gun layer, so that it shows Normally, 2.Change the background to anything but the brown brushing
3. I'd Probably use a modified Supernova Effect at the muzzle of the Gun,to make it look like it was firing or something
4. I would place the Text on the Metal of the Gun (after changing the font), and try to give it an engraved look.
Thats all i can really think of to do to that one...
try adding a simple border, fancier text. Use more filters, as in blur's and layer them on top with different settings to give it a nicer effect. Also, try to download some brush's and try to use a grundge effect. Dont forget to play with layering options and contrast options to get a nice effect.
Dont forget to play with colors/gradiants, because ur siggy looks as if it only has 1 color. Mix it up a bit.