Make another duplicate of the full color photo image. Zoom in as tight as you can on the hand portion.

Using the Pen Tool, draw a series of short lines around the hand and wrench.

NOTE : I've added transparency to the photo to make it easier for you to see the outline).

Try to drop anchor points at the start and end of a curve. Drop the last anchor point on top of the first. The shape should fill indicating a closed path. Set the fill color to none.

With the outline selected, select the Shape Editor Tool . Gently drag the line segments to shape the segments to match the contour of the glove and wrench.

If you have too many points, delete the extra ones (select the point with the Shape Editor Tool and press the Delete key).

Can you tell where we're going with this?