that'd be reaaalllyyyy hard, but you should just ask the artist to save it in PNG with a tran background, since they probably drew it on different layers :S
uh it only applies if you use photoshop lol. after you use magic wand or any other selection tool on photoshop, switch to quickmask mode by pressing Q. you will see things that weren't selected with a red mask over it, and things that were selected have no red coloring on it. you can now use a brush to select things you want to be selected. using a black brush puts things under a red mask, and using a white brush erases the mask