This effect is fairly easy to accomplish, and it gives a great effect. It looks somewhat 3 dimensional!
1. Open up a new image (File--> New), give it a width and height of 300 pixels (or whatever you want, 500 pixels is also good) and press OK. Press D to reset the colours to default and then go to Filter--> Render--> Clouds.
2. Go to Filter--> Pixelate--> Mezzotint and choose fine dots from the dropdown menu.
3. Go to Filter--> Blur--> Radial Blur. Set the amount to 100, the Blur Method to Zoom and the Qualiy to best. If your computer cannot handle best, good will do.
4. Go to Filter--> Stylize--> Find Edges.
5. Press ctrl+I to invert the picture. Alteratively go to Image--> Adjustments--> Invert.
6. Again go to Filter--> Blur--> Radial Blur and use the same settings as before.
7. Go to Filter--> Blur--> Radial Blur yet again but this time set the Amount to 5, the Blur Method to Spin and the Quality, again, to Best.
8. Go to Filter--> Stylize--> Find Edges.
9. Again press ctrl+I to invert the picture. Alteratively go to Image--> Adjustments--> Invert.
10. For the last time, go to Filter--> Blur--> Radial Blur. Set the amount to 100, the Blur Method to Zoom and the Qualiy to best. If your computer cannot handle best, good will do.
11. Press ctrl+L to bring up the Levels box. Alternatively you can go to Image--> Adjustments--> Levels. Set the Input Levels to 10, 2.00 and 200 (you can fiddle around with this to get what you think looks best) and press OK.
12. Press ctrl+U to edit the hue and saturation. Be sure to check the colourize box so the colour shows up.
Final result:
Done! A bit repetitive, but it creates a nice effect. Use some overlay techniques and you will create even greater effects. A little variation, some text, and I came up with this:
More Tutorials: 
