Here I am using a tube of lace to create my frame.  I choose my lace tube and adjust it top left corner. 
 
Click Layers/New Raster Layer
 
Selections/Select All
Edit/Copy
Edit/Paste
Click Image/Flip
move into place
 
That takes care of one side.
Click Selections/Select All
Edit/Copy
Edit/Paste
Image/Mirror
move into place on right side.
 
Now for the top
Edit/Paste
Click Image/Rotate/90 right
move into place
 
Edit Copy
 
Edit/Paste
move into place at the bottom
 
Now to work our lace.
 
I thought a fine border would suffice. 
Click Selections/Select All
Click Selections/Modify/Contract By 3
Click Selections/Invert
Fill with your desired color
Click Effects/3D Effects/Inner Bevel
Here are my settings
I thought the lace was dull looking so used brightness and contrast to spruce it up a tad.  (Colors/Adjust/Brightness and Contrast)
Yep I think a nice mild shadow will be good.
I could add beads which might compliment the lace... that would be using a tube or just making my own tiny bead...
My tiny beads were created by using the Selection Tool set to Elipse via the Tool Palette.  I created a new layer and drew a tiny circle then filled it with a light pink.  I used inner bevel tool to give it a 3d effect.  Once I liked it... I copied it
then I simply pasted it into sections.  I then changed my border to the same color and did the inner bevel effect on it again... to change your border, simply follow those steps again right over the old existing one.
 
This Tutorial and its images and text are Copyright By: CherokeeCandy