Using the Cookie Cutter Tool to Create Unique Photo Edges
Open the photo you want to apply a unique edge to. I am using the photo below that I found at http://www.betterphoto.com/gallery.asp.
Duplicate the background (Cntr + J). You should now have two layers that have the same photo. Turn off the visibility of the background layer by clicking on the eye icon on that layer as outlined in red below:
Click on the cookie cutter tool . Notice the toolbar at the top of the documents changes to cookie cutter options. Click on the down pointing arrow, outlined in red, and then click the right arrow, oulined in blue, then select All Element Shapes to bring up all the shapes available. :
Scroll down until you find the heart shape shown below:
Click on it to select it then simply return to your canvas and drag the shape out around your photo: