part 2
Created a 4-layer image with each corner "tab" on its own layer.
Paste or drag this image on top of target image.
Turn on Snap to border, then move each tab to its respective corner.

Each corner "tab" has a layer style to make it look like an
adhesive photo album tab. The style can be turned
off for a basic "cut-out" look.

The bottom example image has only the upper right corner layer style active.