Thanks apsamrit for the tips.Here are some tips for you.
When you've done your cuts, if they don't look smooth, then select the render with the magic wand, then go to Select > Modify > Smooth. Then smooth it by 1 or 2 pixels depending on the size of your render and you'll notice a difference.
Also if you've got parts of the background still visible on the render then go to Layer > Matting > Defringe. Then defringe it by 1 or 2 pixels depending on how neat your render is.
Hope this helps.
Thanks for the comment Varun.IMO, V3 is the best!
Just a had a quick try at your request. (Completed it in just 5 minutes).mate plzz make deccan chargers 2010 team signature & australia world cup winning signature plzz.. thnks.. reply..