Pastel Effect

Starting Image
  1. Duplicate the Background layer. Rename the new layer "cutout". Apply Filter>>Artistic>>Cutout, using these settings:
    • No. Of Levels: 4
    • Edge Simplicity: 4
    • Edge Fidelity: 2
    Cutout result

  2. Duplicate the background layer again and rename it "pencil". Apply Filter>>Artistic>>Colored Pencil, using these settings:
    • Width: 4
    • Pressure: 8
    • Brightness: 25
    Colored Pencil result

  3. Duplicate the background layer a third time and rename it "fresco". Apply Filter>>Artistic>>Fresco, using these settings:
    • Size: 2
    • Detail: 8
    • Texture: 1
    Fresco result

  4. Reduce the opacity of the Fresco layer to 35%, the Pencil layer to 50%, and leave the cutout layer at 100%. You can then delete the background layer, as the other completly cover it.
Final Result

Source: Photoshop Effects Magic