Here are some fun suggestions for a child's play room:
Chalkboard Paint is a funtastic idea for painting your wall. Get creative; you can paint the area under a chair molding, paint large sihlouettes of bugs or trees, or mount a large rococo picture frame on your wall and paint the area inside.
Ikea has some interesting and playful pieces of furniture and lighting in the children's section. The MAMMUT table and chairs have exagerated shapes and the chairs are available in different colors. The Smila Blomma wall lights are only $8.99! Once the blooms are fixed to the walls and secure, they are perfectly safe. I even love how the green stem (cord) plugs into an outlet.
Restaurants like Jack Astors have the right idea! They use kraft paper and dispensers to rip off sheets for each table use. Kraft paper is an inexpensive art paper and can double as a drop sheet for crafts. A dispenser makes it easy to refresh, just be sure the dispenser is fixed into studs, the paper rolls lock in place, and is high enough kids can't reach (there is a toothy strip for ripping off sheets along the front).