Actually, working with the Pen Tool in Photoshop is an easy task.
SO here I'll give you a quick tutorial about how to create that path in creating B&B icons by k-millio.
First, select the 'Pen tool' from the toolbar.

And make sure to select the 'Path' option from the Options window

Then first of all you need to create a starting point tostart your path. so click on a point like a in your design model

(it doesn't matter whether the point is over the Canvas since what is important here is
the part of the path which go over the layers)
After you've created the starting point move your mouse to a place like b in the window and click. But don't release the left-mouce button!!
After you click on point b, click and drag the mouse point till you see the curve is like this.
( Tip:*follow the direction of the silver arrow
)

Note:*dragging after creating an anchor point with Pen tool will curve the area between the last two points 
Then, click on a point like c and curve the line between b & c
(Here, move the mouse pointer to the direction given by the red arrow)

Then the path is already completed for the B&B icon.
But to make a selection you need to complete the loop as a shape (to select an amount of pixels)
So just make some points in places like d, e,& f to avoid the path from running over the picture layers twice. then Finally overclick on point a to close the spine.

Now your path is completely finished and all you need to do is to make the selection. K-millio's tutorial will guide you through the rest of the designing. 
When you delete the selected area of the White to Transparent gradient layer (probably Layer 3) The design will look like this 

Note:*This may not seem like the original path but my idea was to give the instructions in creating such 
Edit:* And after you've completly followed this tutorial you can improve your skills by creating your own B&B icons like this done by me (after writing your tutorial)
