This tutorial explains how to place a circle inside a circle and how to apply a texture to the outside. I took it a little further and added an image, clipped it etc. It was hard to stop as there are more things I would like to add.
None of this project includes the Vector Drawing Tools or the Pattern Modeling tools. (I know, I know). I had a request from a customer that was trying to accomplish this, so I decided to make another Step-by-Step guide.
It includes Project Designer, Centerline & Conforming Vectors (the last two are optional as you could do raster for text.)