How to Create a Photo with a De-Saturated Border

 
These instructions are for a PC using Adobe Photoshop CS5
One of the many joys of Photoshop or any other photo editing software are the many things you do do with your images to make them even more uniquely 'yours'.  By the way, this image was taken in a large arena of a beautiful Friesian horse.  The arena was quite dark and I was using a low ISO and a slow shutter speed.  Giving the horse this rather abstract, flowing look.

1. Open Image you want to add this type of border.
2. Duplicate the background layer by using Control J.  This will create a duplicate layer of the original image in your layer palette.
3. With the newly created duplicate layer highlighted/active click in the Edit drop downs.  Click on Free Transform….click Alt-Shift & drag handle towards the center to make the border…press enter to commit when you are happy with the size.  
4. Now click on Background layer to make it active….Click on the Hue & Saturation adjustment layer.  Lower saturation & increase lightness to your liking.
5. Click on the scaled down photo layer (should be the top layer) and use Layer Effects to your liking.  I like the drop shadow, inner glow, and bevel & emboss.  These can all be adjusted individually in the Layer Styles box.
6. Before flattening you can also move the scaled down photo layer if you want to align the background layer to line up objects by clicking on the Move Tool.  
7. If you want add some text in the border, select the Hue and Saturation layer you created directly above the Background layer.
8. Select the Text tool and click in the border where you want the text to appear.  Using the background color you select and font type your caption.  I then use the Layer Effects to your liking.  
9. The last step is to flatten your image and do a Save As.  I always do a 'Save As' so the original image is left unaltered.