Make an object transparent - part 1

To make transparent an object we will need two sources.The first source will be any picture of your choice and the second source will be the picture with bubbles .In my case this source will be a yellow couch.On the third picture you can see the yellow couch already done.

Now we will select a bubble.
-Open our floating bubble picture(you can get it from here)

-Select a bubble with the polygonal lasso tool(to be more precise try to select it when zoomed on about 300%)and cut it to a new layer.To do that press (PC)Shift+Ctrl+J (Mac)Shift+Command+J
Note:I don't prefer selecting anything with magnetic lasso tool or magic wand tool because these little gadgets in my opinion are too unprecise.

Now we will select the white parts within the selection.
-With the bubble still selected, in the upper menu choose Select>Color range.Click on the bubble where the red dot is below and set the measures like I did. then click OK

When you are ready with selecting press the delete button to earse the parts of the bubble that are not white.
Now you should see at least something like this:

Now we will drag the remaining white part of the layer to the picture in witch we want to work.To do that firstly open your target picture then go back to the bubbles image, select the Move Tool (V), and drag the layer 1 to your image.