I personally think it could be a minority government with a series of deals on a vote by vote basis, with all parties chipping in where and when it suits them. Which party will be governing, I honestly don't know.
There is the potential for chaos in regards to the forming of a minority government though. The Tories, as the party of the incumbent PM will have first dibs. They'll have the choice of opting to try to form a government or offering that chance to someone else (the biggest party if that isn't them). No one will dive straight into a minority without negotiating first. Majority coalitions may be sought, but the way both the Conservatives & Labour are talking have a good chance of being discounted.
Now, as the Tories effectively have 1st refusal, if they give the chance to govern up (either because they can't form a majority coalition, or because they think the honorable thing to do is give the biggest party the chance) will they then be completely out of the running? Will Labour get the chance to form a coalition, or if they choose, a minority government should a coalition not suit? Or, will the Tories try to step back in attempting to form a minority government if it is unlikely that Labour can form a coalition?
As a country, we have no rules on this. There is no written constitution and everything is up for a legal challenge.
Fun times