Sorry, I should have given more complete instructions.
Select the graphic. Look for the Picture tools tab that should appear above the ribbon, over towards the right. If word is not maximzed on your screen, such "super tabs" may be harder to see. Select the Pciture tools tab and click on the Text wrapping button in the Arrange section. Set Text wrapping to "In line with text."



This will put the graphic in it's own paragraph. Create the borders your want. Then, with the graphic still selected, return to the Text wrapping menu and select square. You can then position the graphic manually where you would like it in a paragraph.

Depending on the type of image, there may be other adjustments you can make, adn these you can look up.

Best,
Ulodesk

I don't think I'm getting a picture tool tab (does it matter what version of Word I'm using? Mine's 2003), but following your instructions to look to the right, I found something that helped. On the main tool bar, there's a button that says "outside border" with a drop down menu. I clicked the drop down menu and was presented with a set of options for how I want the border to look. I chose all four sides and voila! I now have a border on all the images I like.

Thanks for leading me in the right direction.

Since you have Office 2007 shown in your posts, I was using those referents. The Borders dialogue in 2003 may be under Tools/Borders; it has been a couple of years since I used 2003. In any case,it will have Box as an option, so that you needn't apply each side separately.

Best,
Ulodesk