In Photoshop CS6, the new version of Photoshop, you can use special cropping tool and you are done, but that doesn't mean you cannot achieve the same result with older versions.
Let's design a stylish and transparent discount label you can then use for an online shop website, posters and similar media you want to advertise a discount on, using Photoshop.
You will learn how to manipulate a photograph in a way it will look like an object, melting snowman in my case, is sticking out of a photo using Photoshop CS5.