Access the magic wand tool, set the tolerance=20 in the tool's option bar, leave contiguous unchecked. Left click, then hit delete on keyboard. You should see the design in outline form, surrounded by a checkerboard pattern which denotes transparancy. The "marching ants" indicate that the selection is active
Go to Select>refine edge, and adjust the feather and contract/expand sliders to suit
Note that this image has a low resolution. For printing, it is recommended that the resolution be in the 240-300 px/in range.
Please report back with your progress.
You can then use Edit...Define Brush, which will let you use that symbol in at least 65 million different ways -- if you paint with that brush on a new layer on an image, you can vary the colour, fading, layer style, etc. of the symbol to your heart's content:
I did some experimenting and found a more precise way of getting a sharp edge (and creating a brush):
At this point, you can use Edit...Define Brush from Selection to define a hard-edged brush of the symbol. This ensures that the symbol will be solidly filled with the Foreground colour when used, unlike my previous post which will create a filled symbol with shades of the Foreground colour:
If you don't want to create a brush, simply use Select...Inverse (Ctrl+Shift+I) to select the white area and hit your Delete key to get the symbol on a transparent background. You can fill the symbol as you wish -- gradient, etc.