Obviously, the butterfly and the text in this picture are a whole, which may have been cut from where you cut it.

But if you want to use PS, you can do it in the following ways:

1, find a "butterfly" brush on the Internet, create a new layer, and click some butterflies on it (note that some butterfly brushes are random, that is to say, the direction of butterflies is not necessarily);

2. Then add special effects to these butterflies, use "soft light" and add fuzzy effect (try which fuzzy effect yourself);

3. Create a new red text layer. After writing, rasterize, add radial gradient and choose direction.

4. I know the details of the decoration myself, because I am also an amateur. Haha, I hope I can help you in short.

You said that if you only added blending options, you must have used a variety of blending modes, which are probably these: gloss, color superposition, gradient superposition, and internal luminescence. You try.