Alright-This one is a bit more complex than both, but it's worth it.

Start off with a 400X400 image (customize it to your preference though)
-Create a new layer
-Fill it with black

Step 1: Go to Filter>Render>Lens Flare and Make 5-
One in each corner and one in the middle as shown below-


Step 2: Go to Filter>Sketch>Chrome and leave the default settings as they are and click okay.

Now it should look like this:


Step 3: Now, add some color to your chrome by control+U
-Check the colorize box, choose the hue and then make the saturation 75 and click ok.

Step 4: Go to Filter>Distort>Wave and use the default settings

Followin' along?


Step 5: Now, go to Filter>Blur>Radial Blur and set it to 40, best quality and zoom and click ok.

Step 6: Create a new layer and set it to lighten

Here's what it's like now:


Step 7: Make sure you have the duplicated layer selected and go to Edit>Transform>Flip horizontal

Step 8: Contol+U the new layer and add a color of your choice, I chose blue.

Here's what it is like now:


Last, you can add what you want! Cut a section out and use it in a sig, add some texture, pattern, brushes!

Hope you liked it!

Here's what I came up with.