Best tutorial I've seen for wainscoting for your playroom. Use 1/4" MDF. Buy 4'x8' sheets and have Lowe's cut them into strips the width you want. No problems with warped boards and much cheaper than wood. @Jenny Freehardt
10 Cheap Ways to Make Your Home Look More Expensive
These DIY architectural details will give your home tons of character for just a fraction of the cost. Make your home look more expensive with these easy DIY techniques like adding faux wainscoting for your living room. Add a panel wall to your master bedroom using thin hardwood sheets and half-inch-thick MDF panels.