Something that's framed is surrounded by or held inside a frame. A framed photograph has a border around it, and is often behind a protective piece of glass.
You might hang all your framed paintings on one wall in your apartment, or cluster your favorite framed photos on your piano. One reason to have framed art, rather than unframed pictures, is to provide them some support — similarly, when a house, piece of furniture, or building is framed, it's supported by some material. Your uncle might build a log-framed cabin in the woods, for example. If someone says that you've been framed, that means someone has put the blame on you for something you didn't do.