This image is from the ESA/Hubble Picture of the Week website. It shows a colorful planetary nebula called Kohoutek 4-55, which is about 4600 light-years away.
The ESA/Hubble website defines what you are seeing in this way:
A planetary nebula, a glowing shell of material thrown off by a star. A small central region of greenish clouds is encircled by a glowing, jagged ring, like a hole torn in fabric. A band of silvery-blue clouds outside this is again encircled by a larger, fainter yellow ring of gas. Puffy, smoky clouds of orange and red gas billow out from there into a large oval nebula, fading into the dark background of space.
Our Awesome Universe 