You sure you don't want to do this with Mysql? You just name another column like this:
select mytimestamp,date_sub(mytimestamp, interval 1 Day) as Yesterday from mytable
The column will format a litte differently than a timestamp.
If you really must with php... and you don't want any help from mysql... do this -
parse out each element of the date:
$day = substr($myreturneddate,6,2);
$month = substr($myreturneddate,4,2);
$year = substr($myreturneddate,0,4);
then:
$yesterday = mktime(0,0,0,$month,$day-1,$year)
Note that the 0,0,0 are the hrs, minutes seconds which I didn't parse out.
The nice thing about the mktime is that if you have Feb 1, 2002 when you subtract 1 from the day it will be Feb 0,2002 and it knows that you mean Jan 31,2002..
You may want to put a date() around the mktime and format it to your given format... makes it prettier.
sm