What? Reflect Effect
Final Product:

Step 1: Okay, first lets start with a 500px X 500px image. with a white background.

Step 2: Now make a quick text, or put in an image that you wish to reflect. Here is what I wanna do

Step 3: Make a copy of the image and go to Edit > Transform > Flip Vertical. You should have the following.

Step 4: Now add a Layer mask to the image and switch to your Default Foreground and Background Colors(D). If you dont know how to do that, look below.
Reduced: 56% of original size [ 1280 x 1024 ] - Click to view full image

Step 5: Now with the Soft Round 65px Brush(, erase the bottom part till you get the desired effect. I just brushed the borrom twice with Opacity and Flow set on 100. And then switched the opacity of the layer to 50%

Step 6: With the Costume Shape tool(U), I added a little bird, and made a pretty slick logo!