We saw an awesome inspirational concept for this online and had to try our hand at it. The contrast in colors along with the shapes that get made were a ton of fun to make come together. Nothing complicated here at all, just tiled textures assigned to ribbons with a certain stacking sorting order.
Concept: https://80.lv/articles/crafting-a-kamehameha-like-vfx-001agt/
Materials, textures, and particles done by myself in Photoshop and Unreal
Rocket League - Energy Wave Boost