duplicated these two layers and added a radial blur to both of them.
step 3 of 5
Make a new layer above the radial blur layer of the biggest yes and render clouds in it. Then set the option to overlay.
step 4 of 5
Ad gaussian blur to the big spherized 'yes' and put this layer in a new folder. Put the folder under all the above effects. Now make a new layer above the folder and fill it with a gradient of the rainbow colors. Set this layer to overlay.
step 5 of 5
Now create new layer in the folder. Use a white brush with the hardness on 0% and play around until you get the spaced out dots. I used a tablet and set the brush to apply to pressure, the harder I pressed on the pen the bigger the brush.