Fancy placeholder figures in LaTeX

dummyfig.tex

%% This part goes in preamble
\newcommand{\dummyfig}[1]{
  \centering
  \fbox{
    \begin{minipage}[c][0.33\textheight][c]{0.5\textwidth}
      \centering{#1}
    \end{minipage}
  }
}

%% This part makes a figure
\begin{figure*}[h]
  \dummyfig{Dummy Figure Label} 
  \caption{Dummy figure caption}
  \label{fig:dummy}
\end{figure*}