This is my first tutorial so comments are most welcome

I used Adobe Photoshop 9.0 CS2

File -> New (Ctrl + N)

I used these settings:


Filter -> Render -> Clouds

Filter -> Render -> Difference clouds
Repeat this step 4-5 times

You should have something like this:
Click to view attachment

Duplicate this layer (Ctrl + J)

Filter -> Stylize -> Extrude

Use these settings:


Filter -> Distort -> Pinch
Amount: 100%

Filter -> Distort -> Twirl
Amount: 25%

Change the blending mode from your top layer to 'Overlay'

Now you should have something like this:


Press Ctrl + E to merge the layers.

Ctrl + J to duplicate the layer again.

Edit -> Transform -> Flip horizontal and set the blending mode to 'Difference'

Merge the layers once more (Ctrl + E)

Duplicate once more (Ctrl + J)

Edit -> Transform -> Flip vertical and set the blending mode to 'Difference'

Merge them (Ctrl + E) and you can play around with the colors (Ctrl + U)

Or you can duplicate it again and ad a radial blur:
Filter -> Blur -> Radial blur
Settings:
Zoom, 50%, Best

Set blending mode to lighten.

You can merge them and make it one color or use one for the blur and one for the background

My final result:


I don't know what it looks like, but maybe some people can use it as a background for something.

Comments are most welcome on how I could do it better of whatever.

aplogies aftertoucher, never saw this until now.

I feel with a few adjustments and a toning down of the blue you chose you could make some groovy looking design.

Thanks for sharing.

Nice effect, but better for me is if we stop on last step and add there a colors...

This is like TV effect with four mirrors.

Congr & thanks for share.

Good one!

Agree with Brackone here, the black image looks great!