Involves selective color and textures. I'd say it's pretty easy. You could use the coloring part for icons as well.
1. Fill a new canvas (I used 450x150) with #222222
2. Add this texture:
Desaturate it and set it to Normal, 35%.
3. Take out your render/cut-out. I used one of Giovanni Dos Santos. He plays for FC Barcelona. Feel free to be adventurous in the colors you use on your render. I didn't try other outcomes really, just one with Thierry Henry who plays for the same team. Resize the render so it fits the sig. Duplicate it twice so that you have three render layers. Here are the effects I used:
Set the first one on Normal, 100%.
Set the second one on Multiply, 50%.
Set the third one on Overlay, 100%.
4. Next, we're going to add a shadow/bigger background render. This time, get out your render and don't resize it. Then set it Overlay, 100%. Where it looks bad, like on the small render - erase. I erased on the small render and where the arm stuck out.
5. Next, add these two textures (in the order I give them):
Put them both on Linear Dodge - except on the first one erase where it's on your render.
6. Add a new color fill layer. Fill it with: FF9333, which is an orange. Set it to Multiply, 35%.
7. Add another new color fill layer:206FC0, which is a blue. Set to Exclusion, 5%.
8. New Selective color layer. You don't have to use my settings - but if you want a similar outcome, try to roughly follow mine. What we're trying to do is get the background blue - if you know a similar way to do that, tell me or try it yourself. But here are my settings:
Reds: 0, 0, 0, -20
Neutrals: 0, -20, -25, +30
Blacks: -11, +5, -5, +2
9. Make a new layer, and go to Image>Apply image. Use the burn tool to darken the background.
10. New color balance layer:
-10, 0, +10
11. Last step! New selective color layer:
Cyans: +91, 0, 0, +100
Blues: +100, 0, 0, +100
Blacks: +5, -1, -5, +3.
I may provide the .psd if someone asks for it. ;)