I used a stamp and embossing folder that came free with a magazine last year - Antique Elegance - and used both techniques.
I stamped the cameo lady with Versamark and heat embossed her too using the white embossing powder.
After she cooled down (so as not to 'flatten' her) I cut her out using a complementary die (this is from Tonic Studios Essentials Die set - With Love. I cut a further four of the same die cut and layered them on top of each other to create a more solid embellishment. Before adding the lady I used Distress Ink - Vintage Photo to 'age' her, the heat embossed area resists the ink so it makes it 'pop'! After adding it to the other four layered die cuts I inked right around the edge of them all.
To finish I did a little bit of machine stitching to cream card, distressed the edges of both layers, added a laser cut doily from my stash and decorated with lace, pearls and flowers.