Used images:
Cloud http://www.sxc.hu/browse.phtml?f=view&;id=890455
Landscape http://www.sxc.hu/browse.phtml?f=view&;id=1215281
Moon http://www.cgtextures.com/thumbnails/textures/Various/Various0430_thumbhuge.jpg
Sky http://www.2textured.com/main.php?g2_itemId=281
Branch http://www.2textured.com/main.php?g2_itemId=281
Tree http://www.2textured.com/main.php?g2_itemId=281
Stars http://www.2textured.com/main.php?g2_itemId=281
Create a new document in Photoshop 1200*1600px. Apply Gradient Overlay effect to the first layer. Use following adjustments: 
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Insert Sky image.
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Add layer mask.Fill layer mask with linear black and white gradient just like in the screen shot below: [показать]
Apply Luminosity Blending Mode to this layer.
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Remove a top part of background using smooth Eraser tool [показать] .
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Add Layer Mask and fill it with linear black & white Gradient tool [показать] .
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Keep active Layer Mask. Correct horizon area, using translucent soft round black brush.Use white hard brush for foreground objects to make them sharper.
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Apply Gradient Overlay Layer style effect to Landscape layer.
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We have got following background for our artwork.
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Create dark spot using soft round brush just like in the screen shot. Use Multiply Blending Mode and Opacity 26%.
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Insert tree image.
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Change color balance using Match Color. From "Source" choose current psd file and "landscape layer"(layer with barn and trees). Set following Image options:
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Extract tree from background.Use Flip Horizontal transformation. Edit > Transform > Flip Horizontal.Add Layer Mask and process roots edges using translucent preset "Texture1" black brush from Assorted Brushes.
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Add layer style effects to the tree trunk layer.
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Insert branch image.
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Draw tendrils using small Shape Dynamic brush.
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Add small leaves and branches silhouettes.
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Merge trunk, branch, leaves and tendrils layers.Apply Gradient Overlay effect to created layer.
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Duplicate background(landscape) layers and merge them.Place created layer above tree("Beanstalk") layer.Load selection for tree layer.Copy selected area and paste it above tree layer.
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Adjust Opacity about 50% for created layer, Erase some areas(bottom and top)in Layer Mask using big soft brush just like on the picture below:
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Load selection for tree once again.Create a new layer, fill selection with any color.Apply Flip Vertical Transformation for created shape. Move it down.
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Go to Edit > Transform > Distort Transformation. Correct right corner.
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Choose Skew Transformation, move bottom edge little bit right.
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Choose free transformation. Reduce a shape on a vertical.
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You should get something like this shape. Apply gradient effect. Set Fill = 0%.
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Insert Cloud image.
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Apply Auto Contrast. Image > Adjustments > Auto contrast.Image > Adjustments > Levels, move left and right marker to center a little bit.
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Go to Channel Palette. Copy Red channel. Go to Levels once again.Move left and right markers to center, make image much contrast. Background should be black.
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Ctrl + Click Red copy channel.
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Return to RGB Channel. Keep selection.Choose Layer palette and click Layer Mask icon in the bottom of layer palette.
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Apply Screen Blending Mode for Cloud layer.
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Apply Flip Horizontal for cloud and place layer with cloud above Beanstalk.
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Insert night sky image with stars, apply Auto contrast and Screen Blending Mode.
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Create a new layer, fill it with white color.
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Go to Filter > Distort > Lens Correction.
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Apply Multiply Blending Mode to this layer.
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Insert Moon image. Apply Auto contrast. Cut out round peace of the Moon and paste it into a new layer.Apply Screen Blending Mode for the both layers and 30% Opacity for the right segment of the Moon. For the left segment apply Outer Glow effect.
Merge all layers.
Insert any old paper texture. Apply Multiply Blending Mode and play with Opacity settings.
Duplicate art layer and place it above paper layer. Go to Image > Adjustments > Equalize.Apply Multiply Blending Mode and Opacity 12% to created layer.
And here is result!