Hey folks I kind of stumbled upon another use for Ifranview, adding frames to your photos. Simply go to "Image" down to "Add Canvas" input your dimensions and your color and hit okay. Go back and do it again changing colors, Ifranview will simply start the new canvas where the previous stopped. When you are done you can hit "F12" and bring up the "paint" dialog box and add text if you like or import the image into another editor and add text.
Outside of using Photoshop or Elements and pre-recorded actions, its the easiest way I have found to add frames to your images using a free program.