Obama has exacerbated the phenomena but he's not the cause of it. Within Islam there are X amount of adherents that are ripe for radicalization and ISIS presents a sort of flag ship for them to rally around. Obama's fault [if one is looking for partisan points] was in failing to secure Iraq after he came into office. Or again with the partisan points, one could blame Bush for getting us into Iraq in the first place.
The problem with both partisan ideas is that it ignores the fundamental issue, which is radical Islamic ideology. Sooner or later, with or without Bush/Obama, the Middle East was going to be destabilized by radical Islam---such as it was in Egypt which had little or nothing to do with the Iraq war or its consequences.
The west needs a coalition to crush ISIS and remove the flagship. It won't remove the ideology, but maybe it would reduce the acts of terrorism. The only way to deal with the ideology is to isolate it and for that we need the help of Muslims because radical Islam is a cancer in their religion.
Ultimately, it's up to them to remove it.