Yes, this is possible with CSS3. Bacco has already left an alternative, with a background image, here is CSS3:
The idea is to create virtual elements with a shadow effect behind the image. These virtual elements take a spin and stand behind the image. CSS example below, and example with the transparent image , to see what goes on behind.
.lifted:before, .lifted:after {
bottom:15px;
width:50%;
height:5%;
max-width:300px;
-webkit-box-shadow:0 15px 10px rgba(0, 0, 0, 0.7);
-moz-box-shadow:0 15px 10px rgba(0, 0, 0, 0.7);
box-shadow:0 15px 10px rgba(0, 0, 0, 0.7);
}
.lifted:before {
left:5px;
-webkit-transform:rotate(-3deg);
-moz-transform:rotate(-3deg);
-ms-transform:rotate(-3deg);
-o-transform:rotate(-3deg);
transform:rotate(-3deg);
}
.lifted:after {
right:5px;
left:auto;
-webkit-transform:rotate(3deg);
-moz-transform:rotate(3deg);
-ms-transform:rotate(3deg);
-o-transform:rotate(3deg);
transform:rotate(3deg);
}