What photo app or editor can be used to produce this wavy effect?
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I'm sure there's probably a filter or app out there - but here's the Photoshop answer: Use Liquify.
The image looks like the artist simply ran a liquify brush through the bottom half of the photo semi-randomly. (Up/Down movements on the left and right, side to side movement on the legs).
Distortion effects in Photoshop or Gimp, but applied to separate color channels with slight difference in ripple parameters. Thus you get those orange/bluish edges.