How to make part of image transparent?

I am new to unity and want to know how to make part of image transparent. So, that the image behind front image is visible from that part of transparent region in front image.

So if you put your textures on planes, which face the camera and then use this shader to render something infront of it there by cutting a hole. If your textures are unlit you might have to fiddle with the order of the shader (I believe there are instructions on that on the wiki article I linked).