Images

After a little testing I got this to work.
assumes the worksheet is sheet1
a1 = 1

Sub pic_test()

If Cells(1, 1).Value = 1 Then
ActiveSheet.Pictures.Insert("C:\8973.jpg").Select
End If
End Sub

this assumes this is where the picture is located.
I recorded a macro and copied the code from the module.

Private Sub Worksheet_Change(ByVal Target As Range)
If Target.Address = ("$A$1") Then
    If Target.Value = 1 Then
     With ActiveSheet.Pictures.Insert _
        ("C:\Documents and Settings\Customer\My Documents\My Pictures\image6.gif")
        .Top = Range("A1").Top
        .Left = Range("B1").Left
        '.Height = Range("B10").Top - Range("A4").Top
        '.Width = Range("A4").Left - Range("A4").Left
    End With
Else
    ActiveSheet.Pictures.Delete
    End If
End If

End Sub

This goes in the worksheet module

check here to find that

http://www.contextures.com/xlvba01.html
Change all the ranges to suit the size of pic you want, careful with activesheet.pictures.delete
it will delete all picture in active sheet, except wordart, no idea how to delete wordart using vba