I have tried everything and I could not create a similar effect. The best I did is shown in the link called “My output”. Currently, there are multiple plane meshes stacked on top of each other in the one I have made. I am fairly new to shaders in general. Please help me so I can progress, I am stuck on this for past 30 days.
Edit: After posting here, I got to know that it can be searched by keyword “Ectoplasm” on pinterest.
The fresnel effect with iridescence looks really cool and might be helpful. Also I am trying something similar as the guy doing fire effect on 2d plane, and have achieved some closeness to what I need.
I think you could make a color gradient in Photoshop and sample that texture. Then use a node like TextureToRadialCordinates or something like that. I use UnrealEngine 5. Then im guessing you would connect a fresnel node and maybe multiply it by a noise texture.
Anyone more experienced, please let me know your thoughts on this. Im trying to improve my learning by answering some questions here and there. Seems like I basically described one of the videos. Lol.
That means my knowledge is getting better. Hurray!