I really like the overlay of the two circles. The color combination of warm and cool greens gives a modern touch along with the mixture of typefaces in white. The background picture gives a nostalgic feel and is very inviting.
I like how this letter is incorporating a human element, but is not fully made out of the hands and arms. If it was simply just a letter or just the arms I don't think it would be as interesting. Mixing them together brings a new aspect to the type.