Save on your computer the next pictures: â€œinitial-picture1.gifâ€ and â€œinitial-picture2.jpgâ€.
Create a new document in Adobe Photoshop with a gray background and import the pictures like this: the picture with the girl first and then the picture with that waves.
Set the Blending modes for layers in the Layers Tab for layer wave to â€œSoft Lightâ€. Using a Rough Round Bristle brush (Brush Tool in the Tab Tool) delete an area around the girl picture:
Set the â€œOpacityâ€ to 50% for the layer â€œwaveâ€ (in the Layers Tab) and create a new layer before the layer â€œwaveâ€. Make a rectangle in this layer with the background color â€œ#67551Fâ€. Set Blending modes for layers to â€œColorâ€. The result should be:
Select the layer â€œbackgroundâ€ and add a new layer. Draw a rectangle in the your new layer with the color â€œ#F9E7B1â€. Add Layer Style in the Layers Tab and select â€œDrop Shadowâ€ with the next settings:
Now you have a nice old picture effect: