Highlight the portion you do not want to be black and white with the magic wand, then select inverse, go to "Image" I think, or "Edit", and look for "Modes" (I think), black and white is an option.
So far I only have Wringling in mind.....and CCAD, I feel like I need to look at more for more options, but I can't seem to find a decent search engine or anything. Anyone know any good art colleges?