I have posted a two part tutorial on creating an Out of Bounds with photoshop which can be done in all versions. The first part is here and the second part is here
That was in February 2007. Quite a long time ago. It is a long tutorial. Doing it in Photoshop CS is simpler and easier.
Step 1 : I have opened this free stock image in Photoshop. You will find it here
It belongs to =woopidoo2
Step 2 : Press ALT+Double Click the Background Layer. It changes to Layer0.
Step 3 : Press CTRL and click the New Layer icon. A new Layer 1 forms below Layer0.
Step 4 : In the Swatches I have clicked on Pure Cyan Blue. Hover your cursor over the swatches to see the names.
The Foreground Color changes to the color picked.
Step 5: Click on the Background Color.
Step 6 : The Color Picker opens.
Step 7 : Click again on the Foreground Color.
Step 8 : The color in the Color Picker changes to the color selected earlier.
Step 9 : Click on a darker shade of blue. The numerical value of the color appears on the box below. Click OK in the Color Picker.
The Foreground/Background Color looks like this.
Step 10 : Press g on the keyboard. It is the shortcut to bring up the Gradient Tool.
Drag from top to bottom to apply the Gradient.
Step 11 : Click the Rectangular Marquee Tool.
Step 12 : Drag out a selection with the Rectangular Marquee.
Step 13 : Go to Select>Transform Selection.
Step 14 : Right click inside the selection. Click on Perspective.
Step 15 : Drag the left corner handle inwards. Th right corner handle moves inward automatically.
Step 16 : Drag out the left bottom corner handle. The right corner is also dragged out automatically.
Step 17 : Click the Tick Mark in the top panel.
Step 18 : With the selection in place, click on Layer 0.
Step 19 : Click on the Layer Mask button. A Layer Mask forms next to the layer thumbnail on Layer 0.
The image looks like this.
Step 20 : Press CTRL+J. Layer 0 duplicates into Layer 0 copy.
Step 21 : Right click the Mask and click on
Delete Layer Mask from popup.
The image looks like this after deleting the Layer Mask.
Step 22 : Click the Quick Selection Tool.
Step 23 : At the top the New Selection should be selected.
Step 24 : I have done the selection.
Step 25 : Go to Select>Modify>Feather.
Step 26 : Set the Feather Radius at 1 pixel. Click OK.
Step 27 : Click the Add Layer Mask button. A Layer Mask forms next to the Layer thumbnail on Layer 0 copy.
The image looks like this.
Step 28 : Click the Brush Tool.
Step 29 : Click on Brush 59.
Step 30 : The Foreground Color is set to White.
Step 31 : Reduce the Opacity in the top panel to 75%.
Step 32 : Click with the Brush to the right and left to make the dirt seem to appear spinning off from the image.
Step 33 : Press CTRL+CLICK NEW LAYER icon. A new Layer 2 forms under Layer 0 copy.
Step 34 CTRL+CLICK the Layer Mask of Layer0.
A selection forms.
Step 35 : Go to Edit>Stroke.
Step 36 : In the Stroke dialogue box click on Color. The Select Stroke Color dialogue box opens. Type ffffff in the bottom. It stands for white. In the Stroke dialogue box set the Width at 12 pixels. (It will depend on your image).
Step 37 : The Width has been set to 12 pixels and Location is set to Inside. Click OK.
Step 38 : The Stroke has been applied. Press CTRL+D to deselect.
Step 39 : Click on Layer 0 copy. Press SHIFT and click on Layer 0. All three layers are highlighted.
Step 40 : Press CTRL+E. The three layers merge into Layer 0 copy.
Step 41 : Go to Edit>Transform>Warp.
Step 42 : The Warp grid appears.
Step 43 : Push up the bottom left and right handles up.
Step 44 : Click the Tick Mark in top panel to apply the Warp.
Step 45 : Press CTRL and click the New Layer icon. A new Layer 2 forms below Layer 0 copy.
Step 46 : Press x and then d on the keyboard to restore the default setting of Foreground Black/Background White.
Step 47 : Press b on the keyboard, the shortcut for the Brush Tool. I have clicked on the Soft Round Brush. How large you want the Brush to be will depend on your image. Press ] (right bracket) to make the Brush Large and [ (left bracket) to make it small.
Step 48 : Keeping SHIFT pressed drag from left to right to create the shadow.
Step 49 : I have decreased the Opacity of the layer to 35%. Nothing hard and fast about it. It will depend on your image.
The completed Out of Bounds.
Other photoshop tutorials are here