1. First off create a new workspace, it doesn’t matter if it has a transparent or colored background, but be sure to set your foreground color to black (#000000) and your background color to white (#FFFFFF), the quick key for this is 'D'. Size is not of any importance either, I decided on a 300x300 pixel image.
2. Go to Filter > Render > Clouds
You should now have something alike this:
3. Now go to Filter > Sketch > Chrome. You can leave the defaults in tact here.
Now this should be quite alike your image:
4. In this step it will be taking some serious waterish shape. Go to Filter > Distort > Ripple and set the amount to 999%.
This should look quite like yours:
5. Now go to Image > Adjustments > Hue/Saturation. Thick the colorize box. Move a bit around with the Hue, Saturation and Lightness amounts.
These are the settings I used here:
Now you’re done!
Your final image should look quite alike this:
