1) Make a new document, I used 300x300.
2) Paint your background black.
3) Apply Filter>Artistic>Plastic Wrap. Press CNTRL+F 2 more times after applying the first plastic wrap.
4) Apply Filter>Distort>Wave with these settings:
5) Press CNTRL+U and add your hue settings. I used a teal color.
6) Right click the layer. Go to Duplicate. Now go to Filter>Distort>Twirl and add a small twirl to it. Now change the duplicated layer to Screen.
7) Duplicate the background copy layer. Now add some more Twirl and leave the blending change at Screen. Go to Edit>Transform>Rotate 90 degrees.
You should end up with something like:
More Tutorials: 
