We tried this watercolor logos psd and it was easy to use. The original psd file is 1500×1500 pix size @300dpi. The psd consist of 6 layer groups.
First three layer groups (named 1, 2 and 3) are colored backgrounds with mandala where you can add your text. You don't have to use mandala, like we didn't in our sample.
Fonts are not included, so if you want to use the same font you have to download them at http://www.dafont.com/ – Big Noodle Titling and Master Of Break (they are free for personal use).
Another set of 3 layers (named 4, 5 and 6) are watercolor shapes masked with mandalas.
Layers groups are colored in three color stlyes – blue, purple and orange.