Select New under the File menu and set the pixel size to 90 pixels wide and 90 pixels high.
Fill the background with a color. We have used a dark blue.
In a new layer, use the Type tool to type in several lines of a character. We have used the forward slash "/" with 12 point Palatino type. Fill the entire file with your character. Fill the character with a lighter color such as yellow or pink.
Duplicate the type layer twice and fill each new layer with a different color. (Be sure to check the Preserve transparency button in the Layers palette when you are filling the type layers. Also, reposition each layer's set of slashes until you like the look of the file.
Flatten the image (under the Layers Palette) and use the Motion Blur Filter set to 5 pixels to blur the texture. Try other blurring techniques until you get the look you like.
Try Filter -> Distort -> Ripple with a medium ripple set to 653. Experiment by applying several different filters to your image.