Wallpaper is gorgeous, but expensive; I rent my studio and don't want to invest in adding wallpaper. Solution = Whitewall & Co: http://www.thegbrand.com/whitewallco/patterns.html
I saw this photo on a design blog recently and I went wild to add this design to the wall behind my bed.
Right now, my wall is a deep biege. I will stencil the pattern in white. I'll live with that for a little bit and see how I feel about it. Not sure if dark background, light pattern or light background, dark pattern will open the space more. (Tiny studio = need to maximize the space visually!)
Once I tackle the wall stenciling, I'd like to stencil the same pattern onto a plain brown rug for underneath my couch/coffee table area. The goal is to create (on a tight budget) something similar to this gorgeous rug from West Elm:
The tentative date for stenciling is two weekends from now. The rug project will happen whenever I can afford to buy a simple brown 5x8 rug ;)
Cheers!

