In the typical American style of having things we don't need, we are making a nursery for the baby. The only things I can say in my defense are that we are not painting the walls and we only bought a crib, a glider, and some accessories. No fancy changing table, no brand new dresser for baby - just re-purposing the old fashioned way.
However, because it is by definition a nursery, we wanted to make it a little cute without putting in the permanent effort of paint. As a compromise, I found a great shop on Etsy.com that sells vinyl wall decals; you put them up on the wall and they look like they were painted on, last indefinitely, and peel off easily when you are done.
Their website is http://www.etsy.com/shop/ModernDecals, and they have great customer service. As I was agonizing over which colors to choose, they actually offered to do a photo mock-up of the decal on the wall. I just had to send a straight on photo of the room so they could Photoshop in the decal.
This is the one we're going with, minus all the color option squares on the wall above the crib. I think it adds a bit of fun and whimsy to a wall of dark furniture and reflects the motif of the crib blanket and bird pillows (and yes, I know not to leave the blanket in the crib with the baby). Once it's all done, I'll try to post a comparison of the mock-up and final product.
If anyone has experience with wall decals, PLEASE let me know. Although the videos make it seem easy enough, I'm a little terrified of putting it up because it's huge - 72" tall!