What do the borders around summoners in the loading screen stand for?

In the new season, we now have borders with the summonners on the loading screen. What do they mean and what colors can be earned?

Solution 1:

The border, or trim, on your character in the loading screen shows the Elo bracket you were placed in at the end of Season 2, and is one of the many rewards for playing ranked games. Your Elo in a specific ranked queue (5v5 Premade, 3v3 Premade, and Solo/Duo Queue) determines the trim you will see in games of that queue. For example, you'll see your 5v5 Premade trim in a 5v5 Premade game.

The notable exception to this is that Normal games will display the highest trim you have.. So for example, if at the end of Season 2, you had 1440 Elo in Solo/Duo, 1150 in Ranked 3's, and 1500 in Ranked 5's, you'd see a Gold trim around your portrait in Normal games. If you were Unranked in Solo/Duo Queue and did not play enough games in a Ranked Team Queue in Season 2, you would have no border in Normal games.

The brackets and their related trims are:

• Bronze (< 1150 in solo, or < 1250 in team): no trim.
• Silver (< 1500 in solo, or < 1450 in team): silver trim.
• Gold (< 1850 in solo, or < 1650 in team): golden trim.
• Platinum (< 2200 in solo, or < 1850 in team): turquoise trim.
• Diamond (>= 2200 in solo, or >= 1850 in team): light blue trim with diamonds in the upper corners.

In the image you posted, for the top team, Fiddlesticks and Malzahar were in the Gold bracket, Volibear and Zed were in the Platinum bracket, and Graves was in the Diamond bracket.

Trims for two players in the Silver and Bronze (or Unranked) brackets, respectively, look like this:

However, if a player in a Bronze or Unranked bracket achieves an honor crest, they will have a different border: