Always save image as PNG format if transparent background required.
Way-1 (Background same color)
  • (menu) Select > color range> Select color using pen (which color you want to delete) [Adjust fuzziness if required] > OK.
  • Select > Inverse
  • Select > Refine Edge > Output to > New Layer> OK.
Way-2
  • Lasso/Polygonal tool (select)
  • Select required area using mouse click and complete the circle.
  • Select > Refine Edge > Output to > New Layer> OK.
Way-3 (Easy, Liked!!)
  • Quick Selection Tool (select)
  • Select required area using mouse click (+ drag).
  • Add to selection use closing third bracket ] and subtract to selection use open third bracket [.
  • For unmark use alt+click.
  • Select > Refine Edge > Output to > New Layer> OK.
Way-4
  • Magic Wand Tool (select) > Select background (Using magic wand tool).
  • Select > Inverse.
  • Select > Refine Edge > Output to > New Layer> OK.
Way-5
  • Pen Tool (select) > Select background (Using magic wand tool).
  • Select required area using mouse click and complete the circle.
  • Right click and select 'Make selection'
  • Select > Refine Edge > Output to > New Layer> OK.