Start by creating a circular frame shape using custom shape tool. |
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From filter menu select Noise>>Add Noise. Apply settings as shown. |
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From filter menu select Artistic>>Plastic Wrap. Apply settings as shown. |
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Click on the "New effect layer" from the bottom of the effect window. From "Texture" roll out click on "Stained Glass". Apply settings as shown. |
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Create a new effect layer. From "Distort" roll out select "Glass". Apply settings as shown. |
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Press Q to enable quick mask. From filter menu select Texture>>Stained Glass. Apply previous settings. |
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Press Q again to disable quick mask. Create a new layer and fill the selection with white color. |
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Double click the layer to open layer style window. Apply settings as shown. |
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Reduce the opacity to 50%. |
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Select and merge all the frame layers. Duplicate the layer. Change the layer mode to "Multiply". |
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Insert any image of your choice. Move this layer below all the layers in layer order in layer palette. Place it as shown. |
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Insert a cutout of a pearl. |
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Duplicate the layer several times, scale down and place as shown below. |
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