Step 1
Create a new document.
Width: 440 Pixels
Height: 100 Pixels
Contents: White
Step 2
Reset your colours. Then use the Difference Clouds filter several times until it looks something like this below.
Step 3
Use the Plastic Wrap filter with following settings:
Highlight Strength: 20
Detail: 15
Smoothness: 15
and you should get something along the lines of what we have below.
Step 4
Now bring up the Hue/Saturation box and use the next settings:
Hue: 200
Saturation: 60
Lightness: 0
Colorize Box: Checked
Feel free to play around the settings to get the color you like. This is what I got below using those settings.
Final Product
Congratulations! You've made plasma goo!
Below is a few other final products.
Above I duplicated the layer and flipped it horizontally then changed its blend mode to Lighten.
