This is a multi segment lesson, because it is possible to do sooo many things with your project. I will do a basic one first, then show you others I did and explain how I got the looks for them. You will be using several tools, so this may help you out to learn to use them. The way I did this lesson, it can only be done in DIP/DI (any version with a selection tool) but I am sure you could do it in other versions, just maybe a bit harder. I do think this would be great for you scrappers out there. Or anyone wanting to play with photos! OK here we go ;-)
I start by opening a photo, any photo you like. This is my hubby the big fisherman...LOL!

The very first thing you want to do is make a copy of your photo(CTRL+d) It might also come in handy if you just duplicate the whole photo by going to EDIT/DUPLICATE WHOLE PHOTO. Now you want to choose the shape you want to use in your poject. You click the selection shape tool

When you click on the menu, you will find many shapes!

I am going to go with the easy square shape in this example, just so you can see the easy way to go. You have to decide the parts of the photo you would like to leave colored. It can be something important or something you like or maybe the color! It is all up to you. You want to choose several areas in your mind, you may have to select them then decide if you like it or not. You will be making a muliple selection, so you will need to make sure in your selection window, that the "+" sign is selected

I have selected 3 areas

At this point you want to click INVERT in your selection window

This will select the opposite areas you want. Now you will go to EFFECTS/BLACK AND WHITE you can also choose ANTIQUE or even NEGATIVE it is all up to you. Some photos are better using the different options. When you click BLACK AND WHITE you can see it right away!

You want to again click INVERT, to select the areas you wanted to stay colored. You want to now made copies of your selections, CTRL+d. To do so, you have to close your selection window by clicking the blue arrow

You can make one or 2 copies of your selection, I made 2. It will look something like this in your stack

Here is where you have to get creative! You can do sooo many things. But for this one, I will keep it simple. I go to EFFECTS/EDGES/HIGHLIGHTED. I applied this

And then click here

In here you can do all kinds of things!

Here you can change the shape of your frame

Here you can change the size of your frame

And here you change the colors, of course!

And, it is still all up to you what you might do. I am going to make them look like the outline of photos, so color is white and shape of frame will be sharp square.

For this look!

You can always apply a filter to your background for an effect. EFFECTS/FILTER

And there you have a simple photo effects color me black and white! Now add text. I think if you use different fonts, it makes it interesting. So I will add "fisherman" in a small font, pretty writing ;-) And then BOB in a nice fat font. You add text by clicking your text tool!

Now something I discovered is this! With the fat font in a color that is not in your photo (mine is lime green), you can select the letter with your selection tool.

First be sure you select your text in the stack.

Then make sure you unclick the contiguous box

Now click on your text

Remember the other layer of the picture you made? Not the whole picture, just the duplicate

Click it! Now it is selected

Now click CTRL+d, now you have your letters in color!

Delete the green text, you don't need it any longer. If you apply the highlighted edge to it, you get something like this

Apply a shadow to the colored framed parts and the fat text and change the color of your think text and then you have your picture!

Here are some other I have made! Let me tell you a little about them.

This was the first one I did, this was a photo on my computer, not sure where I got it...LOL!. I put a frame around the whole photo, then I used the highlighted edge on the letters and the puzzle shapes.

This is actually one of my photos of our crepe myrtles. It was made alot like the one at the top, but I applied black triangle shape for photo holders!

This one is just like how I did the one above in the lesson! Again, just a saved photo.

This one was also a saved photo, I used the stamped edges on this one, making it look like little frames around the selected areas!

This tiny baby is adorable. Another saved photo from the net. I used the Antique filter this time

This one was different, I used only one selected area, the stamp shape, I thought it would be cute! I made it look like a stamp...LOL! This is aphoto I took in the yard.

And finally, my twins, are the new kitten I found, that someone dumped out by a store. Brother and sister, Rudy & Holly. Made by apply beveled effect.