Create a new docment with transparent background that is approx 300 x 300 pixels. Draw a narrow selection with the Marquee tool from top to bottom and fill it with black.

Draw a new selection a show here to the left. From top to bottom. Now go to edit/define pattern.

Select all and go to edit/fill and select pattern.

Select all (Ctrl + a) and copy and paste. Go to edit / transform / rotate 90 degrees CW

Merge down layer 1

Go to filter / distort / spherize with amount 40

Then use the lasso tool to delete some parts so it will look broken.

Now use the smudge tool and drag each line so it will look something like the image here to the left.

Now select the pattern by holding the Ctrl key at the same time as you click on the the layer in the Layers box. Add a new layer and fill it with a rusty like color. Select filter / blur / gaussian blur with amount 1 and use the render / lightning effects with layer 1 transparency marked and mountains set on 10. Then add filter / noise / noise with amount 20.

Use the lasso tool to mark certain parts that you want to reduce the colorstrenght on. Select feather 5 and go to Image/ adjust / hue-saturation and drag the saturation arrow a bit to the left.