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This is a simple effect where the Chalk & Charcoal filter is applied to a duplicate layer, while a reduced Opacity allows more color to shine through from the layer below.
ORIGINAL IMAGE
1. Duplicate the Background layer by dragging it down to the Create a new layer icon at the bottom of the Layers palette.
2. Go to Filter > Convert for Smart Filters so that you can adjust the Filter settings later.
3. With the Background copy layer selected, go to Filter > Sketch > Chalk & Charcoal and apply the settings above.
CHALK & CHARCOAL SETTINGS
4. Reduce the Opacity of the Background copy layer to 60% or until the colors from the Background layer show through to the extent you want.
Using an Opacity of 75% while leaving the Blend Mode as Normal subtly adjusts the Chalk & Charcoal effect.