SetDirectory["C:\\drorbn\\AcademicPensieve\\Talks\\Fields-2011"]

pancake=Import["Pancake.jpg"];
knot=Import["PiccirillosKnot.png"];

ImageDimensions[pancake]

KinP=ImageResize[ImageApply[(0.75#1+#2-0.75)&,{
pancake,
ImagePad[ImageResize[knot, ImageDimensions[pancake]-{300,400}],{{200,100},{250,150}},White]
}],1024]

Export["KinP.jpg", KinP]