I was preparing to make a step by step tutorial on recoloring scrapbook elements (below) when I found a great video tutorial by Simply Tiffany Studios.
Step by Step Recoloring in Photoshop
1. Open image in Photoshop.
2. With the element layer selected, click fx, then from fly out menu click COLOR OVERLAY.
4. Pick a color
5. Change blend mode to Color. Try other blend modes for more effects.