Is it possible to do this on APE or any other product?

Hello,
Does anyone know whether it is possible to make something like this on Adobe Premiere Elements, or would you know what program would be best suited to create this?
I've got a video already but I want to add certain images to match the stuff I am talking about in the actual video. For example, news readers such as this one http://l.yimg.com/a/p/i/bcst/channel7/visionbytes/6696/78226941.jpg are probably talking about that gentleman above the 'heed the warning' title, and that is what i want to do. For example, if I am talkg about rain, i want to put a picture of rain in that same place. Thank you very much.

To add one tip to Paul's explanation, if you wish to add a "border," of any sort, you can create a Title (starting with a blank Title, or eliminating the elements from any Template), create a Shape (choose a Style for that Shape, that includes Fill & Stroke), size and modify it to suit, then you can add your JPEG/TIFF/PSD as a "Logo," or place it one Video Track above both the Clip (VT1) and the Title (VT2), and size and position, as is necessary. You would use the latter method (VT1, VT2, VT3), if you were including a "motion" image, i.e. AV footage.
If you look at your example, you'll see that there is basically a Right-third Title/Graphic involved, with the inset (PiP) inside (is probalby really atop on that Timeline). As the on-camera person speaks, the inset image(s) change to reflect the subjet, but the overall graphic stays pretty much the same, though there could be some animation in elements of it.
All that said, Paul hit it perfectly with PiP. IIRC, PE offers several presets to get you started with PiP. You can use those, or do it manually to suit, with Motion>Scale & Motion>Position, per your exact needs.
Good luck,
Hunt

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