I used this for my about me page and I thought it might be useful.

1. Open a new image (I made mine 600 x 450) and set the background color to #999999.

2. Create a new layer with the image your going to use, then go to Layer ->layer style -> stroke and apply these settings :

3.Now create a new layer, make a white box for your poloroid and place it under you image layer, so you have somthing like this:

4. link both layers together then got to edit -> transform -> rotate and rotate it so you have somthing like this:

5. Now select the poloroid background layer and apply these settings:

and your finished you should have somthing like this: