This is what we are going to make
As the title says we have to make it in 60 seconds. So lets start it.
Step 1. Make documents of 800px X 800px (you can make it of any size though ) with transparent background.
Step 2. Add clouds Filter.
Step 5. Make a new Layer with White(or any) fill color and put it under the first layer.
Play with the Gradients and Levels to make this in any shape.