I have tried different ways, but I found this the simplest and most effectful one. I'm sure other programs like gimp (free photo editing program) have the same tool too.
I select the costum shape tool (it looks like a blue heart, on the left side in my toolbar) and decided to use it from center. That allows me to point on the center of the item and drag it in the wanted size. On the upper left corner you see the used tool, next to it you can select shape: I took the circle, and as color I selected a bright yellow.
With this selections I start in the center of the item and drag it so that the whole item is inside and wisible on the picture.
For every selection photoshop choses a new layer. If the selection don't turn out as you want, just click undo (Ctrl+z) and redo it.
When you are done, you save as .png and all the layers are flaten, but if you save it as photoshop you can add or change things later. The picture you post should be in .png.
If you use paint, you can chosse the shape you want, choose outline, choose color and choose the brush and you get a quite similar result.