Yeah, you can use these instructions to see how it's done in photoshop. You can draw/scan the picture of the crankbait you wanna foil, make a selection of the crankbait, apply a 1 px border to it - this is so you can see the outline better - add the actual image as a new layer (you would be in luck if the background of the image is a single color, thus you could do a select by color), cut the inverted selection and liquify it within the borders of the crankbait you want to foil.
I hopemy instructions are not too hard to follow, cheers!