1. Create New Document 200x200px with white background and press D.

2. Apply Filter>Noise>Add Noise:



3. Go to Images>Adjustments>Threshold:



4. Now we need to use Images>Adjustments>Inverse:



5. Now going to Filter>Stylize>Wind and apply Method - Wind with Direction - From The Right.

6. Repeat step 5 and Image>Rotate Canvas>90CW:



7. Create New Layer, Select Gradient Tool - Linear Gradient with Black to White and apply for this Layer from bottom to top:



8. Go ti Filter> Distort> Polar Coordinates and choise Rectangular to Polar:



9. Final Step, going to Images>Adjustments>Variations and select your variations of colors:



My Final Result: