This is essentially a reflection of what we would see through the fisheye lens of a camera if we pointed it at the sky. Plus a little bounce light from whatever object or objects are near by, like a green leaf perhaps. Maybe some slight specular highlight, if the sun is out.
If we look at the blue sky on a clear day, we'll see it's darker blue right above our heads and then there is a gradual fall into lighter blue. If you look close at a drop of water, somewhere outside, you'll see this dark blue area in or near the centre of the drop, just as I've illustrated here, if it's a clear day. Then maybe there are some white clouds, some buildings or trees perhaps.
It's pretty damn cool that something so small can contain all that information in it's reflection.