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
Faux Wainscoting - Inexpensive & easy peasy!
Colonial Wainscoting Measurements by SnazzyLittleThings.com More
#1. Add faux thick baseboard with this simple trick! -- 27 Easy Remodeling Projects That Will Completely Transform Your Home
DIY: Faux Wainscoting added to my builder's grade home.
27 Easy Remodeling Ideas That Will Completely Transform Your Home (On a budget!)
This is faux wainscoting done in a few hours and at a cost of $35! Could add this to the built-in benches in the kitchen...
Emily of Decorchick! used a chair rail, wooden frames, caulking, and several coats of white paint to create this wainscoting look-alike. Get the tutorial at Decorchick!.
Faux Wainscoting-This is the one we want
DIY Faux Wainscoting - Frills & Drills