To give a peer award, hover over the "Star" icon at the top left hand side of the image or on the photo's page. A popup box of icons will appear with the available Peer Awards. Click on the specific peer award you would like give and you're all set!
If you decide not to give one of the specific awards, a basic "Peer Award" will be given and the system will not allow you to come back and select/change the award.
To Like a photo, simply click on the "Heart" icon!