Can anyone help me get this effect?

[KieranT1]

Hello, Firstly I am new to this forum so I do apologise if this is in the wrong place or wrong title.

What I would love to know is does any one know how you can create the sort of 'cutout' effect in Photoshop CS5 like the picture below ?
Any help would be much appreciated.

Thanks,
Kieran x

[Hoogle]

take a picture with a model with a white background use the lassoo tool to make a selection around her then copy and paste to a new layer add a funky background below her

[KieranT1]

Thanks for your help.
Much Appreciated

[Dataflow]

you should also add shadow to make it come off the BG

[thedirtyknapkin]

it also appears that the black output level was brought up with a levels adjustment on the cutout layer