1. Open your image in Photoshop. I'm gonna use the 'Escaping Panda' image as a sample. Yours can be a tiger, lion, monkeys or Megan Fox.
2. Open a blank canvas in Photoshop. File > New. Set the size of your document slightly bigger than your image size above. For instant, my panda image is 500x388 pixels. So, I set the blank document size to 640x480 pixels.
3. For your blank canvas, duplicate the Background layer.
4. Press D on your keyboard to set the background and foreground color to default, black and white.
5. Press B on your keyboard to select the Brush Tool. Choose one of the polaroid brushes you've uploaded to Photoshop. Select the white duplicate layer and click on your canvas to draw the polaroid.
6. Now, drag or copy the 'Escaping Panda' image and place it below the polaroid layer. Below is how your layer palette should look by now.
7. Next, select the Magic Wand Tool by pressing W on your keyboard. Then, select the Polaroid Layer on your layer pallete.
8. Use the Magic Wand tool to select and erase the black area of the polaroid. Do this by clicking on the black area and hit the DELETE key. Repeat this step until you have deleted all the black areas of the polaroid.
9. And now you can see the Panda image below the polaroid layer thru the 'holes' you made on the polaroid. Below is the result.