First off I created a simple cube, and gave it a custom rainbow shader (like a unicorns poop)
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Then I added the first Mograph Cloner tag. I put three iterations and modified the scaling and rotation a bit.
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Another MoGraph Cloner tag, again making three more clones of the already cloned object.
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Then I added another MoGraph Cloner tag, this time making 500 clones of the already twice cloned object. So it's (3 x 3) x 500... Thats 4500 cubes.
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This is what the scene setup looks like at this point.
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Then by fiddling with the settings of each cloner i finally got a shape that I thought was pleasing to the eye. It is a good thing to note that a 3D rendering program will find it VERY difficult to render a true infinite fractal. It will crash even the most beefed up computer out there.
Then I setup my lights and rendered. Render took about 10 minutes with ambient occlusion and global illumination turned on.