1. Create a new document 500x500 with a transparent background. Press D to reset the colors

2. Fill the layer with Black

3. On the same layer, create a perfect circle marquee and go Filter > Render > Clouds. You should have something like the picture below. (Make a perfect circle marquee by pressing shift when making it)



DESELECT! CTRL-D

4. Go Stylize > Extrude and use the following settings:

Type: pyramids
Size: 20 pixels
Depth: 255 Random

you should have something like this:



5. You are basically done at this point. Go Image > Adjustments > Hue/Saturation and enter the following settings:

These settings are my favorite and can be changed in any way.
Hue: 209
Saturation: 69
Lightness: 0
Colorize: yes



Yay you are done!

Optional:

Change the Extrude settings around to get different spikes!

this is another sg product ;-)