Start by select brush tool. Enable the default chalk 60 pixels brush settings.

Apply some strokes of this brush in a new layer.

Change brush mode to vivid light.

Apply the strokes with different colors.

From filter menu select sketch>>photocopy.

Press Ctrl+I to invert the colors.

Press Ctrl+U to open hue/saturation window. Apply settings as shown.

Press Ctrl+T. Right click the layer and select warp. Select rise from the preset warp styles at the top bar.

Press Ctrl+T and scale down.

Duplicate layer. Press Ctrl+T. Right click the layer and select flip horizontal. Place as shown in the image.

Duplicate layer. Press Ctrl+T. Right click the layer and select flip vertical. Place as shown in the image.

Select all the layer and duplicate the layers. Press Ctrl+T. Right click the layer and select flip horizontal.

Select and merge all the layers. From filter menu select artistic>>plastic warp. Apply settings as shown.

Press Ctrl+U to open hue/saturation window. Apply settings as shown.