Abstract: A picture frame is formed from a blank of flexible sheet material, such as paper, which is scored and shaped, to provide, when folded, a central rectilinear base section bounded by straight lines, and peripheral frame sections which are joined to each side of the base section and are folded inwardly and overlap the base section. The frame sections extend from the outer margin of the base section outwardly away from the base section and then inwardly toward the base section. Extension flaps provided at each corner fold downward under pressure of the overlapping frame sections to provide visual closure of the corners. Raised adhesive strips secure the peripheral frame sections to the base section. A photo-receiving slot cut through the base section permits exchanging photographs without requiring any disassembly of the picture frame.