With float style framing, the edge of the paintng is not covered by the lip of the frame. This is a nice look for any painting on canvas or panel, but a particularly good way to frame a smaller painting as to preserve the maximum image size

panel float
Unlike the canvas float frame,  float style for panel paintings can be done with almost any frame, because the frame does not have to accomodate significant depth.  The frame must simply be sized so it’s opening has about 1/8″ to 1/4″  clearance around the painting.

Hot glue is a simple and common method of attaching a small panel painting to the wood backing of a float frame. Larger panels may be more stable if using the following method: