Step 1
To being, create a new document of any size, I'm using 500x500.
Step 2
Press 'D' on you keyboard to reset your foreground/background colors to black/white respectively.
Go to "Filter->Render->Clouds"
Go to "Filter->Render->Difference Clouds"
Press Ctrl + F on your keyboard two times to repeat the "Difference Clouds" filter two more times
Result:
Step 3
Go to Filter->Brush Strokes->Cross Hatch and apply these settings:
Result:
Step 4
Go to "Filter->Distort->Wave" and apply these settings:
(press the "Randomize" button a few times until you get a good looking effect)
Result:
Step 5
Press Ctrl + I on your keyboard to "invert" the colors:
Step 6
Press Ctrl + J on your keyboard to duplicate this layer.
Go to "Edit->Modify->Flip Horizontally"
Change the blending option of this layer to "Darken"
Result:
Step 7
Press Ctrl + E on your keyboard to merge this layer with the previous.
Go to "Edit->Modify->Flip Vertically"
Change the blending option of this layer to Darken:
Press Ctrl + E on your keyboard to merge this layer with the previous.
Result:
Step 8
Now the fun part, we're going to add some color(s) to the artwork. Go to "Layer->New Adjustment Layer->Color Balance" and apply these settings:
Press Okay
Check the "highlights" tick box and apply these settings:
Check the "midtowns" tick box and apply these settings:
Check the "shadows" tick box and apply these settings:
Result:
Adjusting the sliding bars in step number 8 is what makes the difference. Experiment with different combinations to get completely different colors and effects. I hope you enjoined reading this tutorial.
Here is another variation that was created as a signature background:

