Multi Colored Nebula

1. Make a new document, I used 300x300.

2. Paint your background BLACK.

3. Add Filter>Artistic>Plastic Wrap with these following settings:

4. Add Filter>Distort>Wave with these settings:

5. Press Ctrl+U to add color. Use these settings below:

6. Right click the layer and go to Duplicate. After duplicated apply Screen as the new layers blending change.

7. Filter>Distort>Wave apply another wave to the new duplicated layer and use these settings:

8. Still on the new layer, press Ctrl+U and apply these hue settings:

Voila!