Step1: lets start out by creating a new document 300x150 pixels. after the tutorial ends you can make a new document that is much larger than this (perhaps 800x600) and make yourself a nice abstract looking wallpaper! press d to reset colors! After creating your new work space goto filter > render > different clouds. Now hit ctrl+f four times (this just repeats the last filter)!

Step2: after you get your image looking a little something like the image above goto filter > artist > dry brush and use the settings below:

Step 3: then goto filter > distort > polar coordinates click the radio box next to: polar to rectangular. as you did before hit ctrl+f (to repeat the last filter) four times.

Step 4: now we need to give it the 'wave' effect! goto filter > distort > wave. use the settings below:

Step 5: now you can add a little color to your image by going to image > adjustments > hue/saturation (be sure to ck the colorize box) and your done