Innovative Background Effect

Start by creating a circle using elliptical shape tool.

Press Ctrl+T. Right click the layer and select warp. Select inflate from the custom warp presets. Apply settings as shown.

Press Ctrl+T again. Right click the layer and select warp. Select fisheye from the custom warp presets. Apply settings as shown.

Double click the layer to open layer style window. Apply layer style with the settings shown.

From filter menu select distort>>twirl. Apply settings as shown.

Double click the layer to open layer style window. Apply layer style with the settings shown.

Duplicate the layer and rotate a bit.

Change the layer mode to exclusion.

Duplicate the layer again . Rotate the layer and Change the layer mode to difference.

Duplicate the top most layer.

Select and merge all the layers. Duplicate layer and scale it up.

Press Ctrl+I to invert the colors.

Change the layer mode to overlay.

Move the original layer above all the layer in layer order in layer palette. Change the layer mode to luminosity.

Select the top layer. Click on new adjustment layer icon from layer palette and select hue/saturation.

Apply settings as shown.