Hey guys, a little question how do I convert monochromatic images to a regular standard (color) in photoshop? Thanks.

As in black and white to colour??

Yes, like so

http://images.google.com/images?q=tbn:bq6hA4qaTXoJ:www.artsci.wustl.edu/~artweb/washUSoa/freshpage/GM/LwinRachel/monochromatic.jpg

to regular

Err, you'd have to colour it in yourself. Like paint by numbers, without the numbers. :D

If it is a JPEG, PNG, GIF, BMP, and most others, it is impossible. Sikario's idea is about the best you can do.