1) Make a 400x400 document. Now press "D" on your keyboard to reset the foreground and background colors to black and white. Make sure your background is BLACK.
2) Now apply Filter>Render>Clouds then Filter>Render>Difference Clouds on the background layer.
3) Now Filter>Artistic>Plastic Wrap and use these settings:
Now apply Filter>Stylize>Glowing Edges and use these settings aswell:
3) Duplicate the layer and set the new duplicated blending mode to Color Burn:
4) Apply a Filter>Render>Lens flare right in the middle of the bottom layer. Use these settings or modify them to your liking:
5) With the bottom layer still selected press CNTRL+U and use these color settings:

Your done, heres my fire ball:



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