Photographic Equipment
Nikon D200 and Tamron 90mm f/2.8 Macro (any camera and a macro lens will work)
ABR800 (again any strong light source with a modeling light will work)
Sync Cord
Non-Photographic Equipment:
DVD R+RW
Vegetable Oil
5mm Pipette (available on eBay in bulk cheaply)
Water
Here is an image of the DVD and the pipette:
Here is the lighting setup, ABR800 just a little bit above the lowest power setting:
Apply oil to the DVD using a paper towel or similar and rinse briefly with water. Put some water in a pipette and apply the drops of water to the DVD:
Here is a shot of the completed setup of drops on the DVD:
I put the camera in manual focus and extended the lens all the way out to the minimum focusing distance and varied my distance from the DVD until I saw a sharp image in the viewfinder. The different color effects depend on the angle of shooting in relation to the angle of the incoming light. I would readjust my shooting angle until I saw the colors I liked then refocus slightly as needed.
Here are some example images ISO100, 1/250, f/32:
