First of all I opened the original image in PhotoShop.

I then went to Filter > Artistic > Watercolour and applied the following settings - Brush Detail 14, Shadow Intensity 1, Texture 1.
The next step was to colourize the image. Go to Image > Adjustments > Colour Balance and I applied the following:
Shadows: -55, +60, -70
Midtones: -80, +50, +20
Highlights: +100, +45, +55
This is the final result:
