1. Create New Document 200×200px 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: