Gonna have to say that, brilliant as Calad's and Quanyails' designs are, I think using an actual psychic, or a medium, or a fortune teller, or whatever you want to call it to represent a psychic type is pretty much the least creative you could get. Not trying to be mean, but I think the most successful way to go is to use mystical design patterns and giving it a mystical vibe, as well as playing around with color schemes. If you look at GF's pokemon, not a single fortune teller or medium can be spotted (I guess zam is a magician, but not quite the same thing), and most of them are shown to be psychic through colors (espeon, mew, musharna), patterns (medicham, bronzong, claydol), or certain features having mystical feels to them (cresselia's rings, solrock's eyes, girafarig's tail).
I think Yilx's moth creature (yup, hopping on the moth>scorpion bandwagon) and KoA's seraph thingie really accomplish this, with the moth having mystical features like the creepy eyes and the long fabric-like arms, and the seraphim having floating wings and an empty mask for a face. So I'm definitely going to call these my favorites.
Great artwork by everyone, can't wait to see more, and if I was an artist myself I would definitely love to contribute :)
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