Step 2: Go to Filter > Distort > Wave and use these settings (note that Type is Square):

 Step 3: Press Ctrl-F to repeat wave effect. Now go to Filter > Distort > Twirl and use these settings:

 Step 4: Press Ctrl-J to duplicate the Background layer. In the Layer tab, we will see a new layer which is named Layer 1

 Step 5: Go to Edit > Transform > Rotate 180^o and we will see the rotated Layer 1 like this:

 Step 6: Double click on Layer 1 to open up the Layer Style dialog box. In the Blend Mode choose Screen. Click OK. Press Ctrl - E to merge down Layer 1 and Background layer. Now go to Filter > Blur > Gaussian Blur and set Radius about 1.5 pixels

 Step 7: Create a new layer (by click on the sixth icon at the bottom of tab Layers). Set your foreground to light yellow (#eae84e) and your background to blue (#0000ff). Use the Gradient Tool(G) to draw a line from the center of our image like this:

 After this step, our new Layer 1 becomes

 Step 8: Now double click on Layer 1 and change Blend Mode to Overlay

Done! Here is our result:

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