Converting Path to Shape

The "Convert to Shape" command make a shape layer from the current path.

This method, lets us, for example, "vectorize" a raster image as follows:

1. Select some object, e.g., with the Polygonal Lasso tool.
2. Open the "Paths" dialog.
   
3. Convert the selection to path.
4. Apply the "Convert to Shape" command (fig.1).
5. In the dialog box that opens, choose a fill color and click "OK".

Alternatively you may fill the active path with a gradient (Layer > New Fill Layer > Gradient) or pattern (Layer > New Fill Layer > Pattern).