1.
Start with a black background layer then still in the same layer go to filters -> render -> lens flare and add a lens flare with settings as below.

2.
Make a couple more in different sizes.
Now your image should look something like this.

3.
Go to filters -> distort -> pinch and set it as shown below to be a little creative with the lens flare shapes.

4.
Go to filters -> distort -> twirl and twirl it a bit.

5.
Now go to filters -> filter gallery and locate the filter called plastic wrap and set it as below.

6.
Now if we want to change the colors a bit go to image -> adjustments -> color balance and drag the handles untill you get some colors you like.