Step 1 : Make a new file size 250x250
Step 2 : Now making sure you press 'd', paint the BG in black
Step 3 : Now go to filter > sketch > reticulation (set level 25 for all the options)
Step 4 : Now to create the stars go to filter > sketch > torn edges - set Image balance on 23, smoothness on 15 and contrast on 1
Step 5 : Now for that star effect go to filter > render > Lens flare, and choose '105mm prime" and set brightess to 131%
Step 6: Now you have a nice nearly finished explosion effect, but to make it more realistic we need to get it more smooth, so do this by going to filter > blur > smart blur and putting all settings to 100%
Your final image can end up looking something like this with a bit of work, to change the color of the BG press 'ctrl + u', to enter hue and saturation, check the "colorize" box and then choose the color you want.
