I decided to make a sort of mini-tutorial as I’ve had a couple of questions about how I got this sort of effect
I will demonstrate with this picky of a rubber ducky(aww) using photoshop elements (since this is the most popular version, I believe-I usually use CS)..
Once you have your picture open you select Layer > Duplicate Layerhttp://www.craftster.org/pictures/data/500/21319C1.JPG
A box will appear asking you what you’d like to call this layer..I always use the one given..so just click ok
Now you’ll need to click on the layer tab at the top right or press F11..Select ‘background’ – the one with the little padlock next to ithttp://www.craftster.org/pictures/data/500/21319C3.JPG
Then press ctl and shift and U at the same time – this desaturates the picture (i.e. turns it to black and white)..you wont see any changes on the screen..yet
Now go back to the layer box (or F11) and click on the ‘background copy’ that you have just made.
..and here’s the beauty..now you take your eraser tool and start ‘erasing’ back to the black and white image, leaving the bits that you want in colour as they are..http://www.craftster.org/pictures/data/500/21319C4.JPG
(If you want to be really fussy you can use the magnetic lasso tool to go around the area you want to leave in colour, then right click and chose ‘select inverse’ then go back to using your eraser tool, being as messy as you want because those areas you selected wont be affected. Once you are done go back to the lasso tool and click deselect..)
And you are done! Ta Da!Here's a quick peak at how this one turned out - I've done this in a rush so its not great, but you get the idea!http://www.craftster.org/pictures/data/500/21319C5.JPG
If anything's not clear, let me know and I'll try to explain