The photo actually goes up to the middle of the butterfly and the top and bottom edges have a feather of 50 pixels.
After the feathered edge was added, the photo was duplicated. The bottom photo layer uses the Vivid Light Blend mode. The top photo layer is set to normal with a 50% opacity. Above the two photo layers is a paper with a pink and yellow edge with a Darker Color blend mode. Under the photo are yellow, pink and blue paint splatters positioned to give the photo the best appearance.