Creating an Ornamental Photo Frame

Start by creating a rectangle using rectangular shape tool.

Enable "subtract from shape area" at the top bar. Create another rectangle using rectangular shape tool.

Double click the layer to open layer style window. Apply settings as shown.

Create an ornamental shape using custom shape tool.

Apply same layer style.

Duplicate the layer. Scale down and place as shown. Select the path using direct selection and remove the unwated path by pressing "Delete".

Similarly create duplicates and place as shown.

Create a shape as shown using pen tool . Apply same layer style.

Similarly create more shapes and place as shown.

Select and merge all the layers. Duplicate the layer and Change the layer mode to "Overlay" and opacity to 50%.