Mark it out with the Polygonal Lasso Tool and make a copy of it: Edit ? Copy (ctrl+c). Get back to the previous window and insert it on a new layer: Edit ? Paste (ctrl+v). If that is necessary we may also change the statue's size, applying the next selection: Edit ? Free Transform (ctrl+t).



Create a mask out of this layer and make the stone the statue is situated on invisible on its bottom, applying Gradient Tool.



Then apply the next command: Layer ? Remove Layer Mask ? Apply and decolorize the layer, applying the option from here: Image ? Adjustments ? Channel Mixer.



Make the corrections on the layer's brightness and the contrast (ctrl+l).



Insert now the statue's falling shadow, but it's necessary firstly to make a copy of the layer (ctrl+j) and then make the lowest copy look totally black, applying Image ? Adjustments ? Channel Mixer.



Then distort it, using next command: Edit ? Transform ? Distort.



Next we have to blur out the layer: Filter ? Blur ? Gaussian Blur.



Finally we may change the layer's Blending Mode on Multiply and set the Opacity on 40%.