This tutorial is done for PSP 7 but will work in other versions as well.
NVR BorderMania Zipfile download HERE
Gittes Plug Ins Zipfile download HERE
Unzip and place in your PSP Plug-in Filter folder.
Open in PSP.
My own flower photo Zipfile download HERE

1. Set Foreground color to a dark color from your image - I used #416AAC
Set Background color to a light color from your image - I used #E9EAEC
2. Image - Add Borders 4 pixels symmetric with the color #E9EAEC.
3. Use Magic Wand - Tolerance and Feather 0 and click on the border.
4. Set Foreground Styles box to Gradient with the following settings:



5. Flodd fill with the gradient
Selections - Invert.
6. Effects - 3D Effects - Cutout with the these settings:



7. Select none.
8. Plug-in Filters - NVR BorderMania - Frame #2 with the following settings:




9. Repeat NVR BorderMania.
10. Image - Add Borders of 40 pixels symmetric with the color #E9EAEC.
11. Use Magic Wand - Tolerance and Feather 0 and click on the border.
Fill the border with the color #416AAC.
12. Plug-in Filters - Gittes Plugins - Gittes Sinus Waves with the following settings:




13. Image - Add Borders 4 pixels symmetric with the color #E9EAEC.
14. Use Magic Wand - Tolerance and Feather 0 and click on the border.
15. Set Foreground Styles box to Gradient with the following settings like before
16. Flodd fill with the gradient
Selections - Invert.
17. Effects - 3D Effects - Cutout with the these settings like before.
18. Repeat NVR BorderMania.



If you want to resize it use Image Resize with the setting Bicubic resample.

That's it!

If you have any questions feel free to email me at gittanbro@gmail.com