In this video tutorial I show you how to acheive the color splash effect.
In order to apply this effect you need to do the following:
1.) First you must make your image the background layer and then duplicate it.
2.) Once duplicated you need to go to image < adjustments < black and white.
3.) After the image is changed over to black and white you then need to select the eraser tool and start erasing over the part of the image that you want to be in color.
4.) Because you have duplicated the layer once you erase the original layer which is still in full color will come through.