I got this idea through this site:
and here is how I made my own.
I have just hollowed out an old book, and finally I have a useful purpose for the leftover pages. Right now I did not have any white cardstock, and the paper of the pages is thick enough to hold a picture. You can also do this with colored paper or just plain white, so it really looks like a polaroid. I like the combination of words, a picture and writing on it.
Gather what you'll need: some paper, photos, a cardboard template, glue, scissors and an exacto knife.
My template is app. 10,5x8,5cm and the inner square is 7,3x7,3cm.
cut out a frame
Cut a picture/photo down to the right size, and glue it to the back of the frame.
Decide if you want to write something on the bottom of the frame, and hang it some place nice!