Do you want to know how it's done? Learn how to use Photoshop the easy way!
First of all, make sure that your picture is not labeled as a background in the layers palette. If it is, double click on the layer and name it something else in the popup window. Now we will need to duplicate this layer by selecting Layer/Duplicate Layer. We will also need to create a layer and drag it to the bottom of the stack, and fill it with white. Select Layer/New/Layer. To fill with white select Edit/Fill and choose white from the drop down menu. Now you should have a layer order that looks something like this.
Select the top layer, in my case Layer 2. We need to select the part of the photo that is going to pop out. In my picture the legs will be popping out. I am going to use the magic wand tool for this. Feel free to use whichever selection tool you are most comfortable with.
You can see from my picture that I have a bit more than the legs selected. It is ok to have more than you are going to use selected.
Now choose Select/Inverse from the menu bar. Hit delete, and your selection should be all that remains. You will not be able to see this because the middle layer (Layer 1) is showing. You can see your selection by clicking on the little eyball just to the left of layer 1. Make sure to turn the layer back on again.
Now I am going to create a little 3D perspective on what will end up being our bordered photo that we are popping out of. I will use the Polygonal Lasso Tool to achieve this effect.
Make a selection similar to what I have shown.
Maiking sure that the middle layer (Layer 1) is selected, click the Add Layer Mask button at the bottom of the Layers Palette. This will allow only what is inside the selection to show through for that layer.
Okay, that's looking pretty cool. Just a couple of more things to give it that little extra something.With layer 1 still selected, choose Layer/Layer Style/Blending Options. This will open the Layer Style Blending Options window. Select stroke to create a border for the picture. Here are the settings I chose. I used a shade of gray hex# CCCCCC.
In the same window, select the Drop Shadow. This will give the photo a little depth. Here are the settings I used.
One more thing and we are done. Go back to layer 2 with the pop out selection. Select Filter/Blur/Gaussian Blur, and give it a small radius. I used .8 for mine. This will help the pop out feature to blend a bit better with the white background.
And here is the finished pop out photo. Enjoy!