Naysayers be silent, because it worked wonderfully! And I've got pictures to prove it!
I found this really cute "Dick and Jane" fabric that has phrases from the classic books of the same name. I wanted to do something neutral that also worked in our play area. I originally planned to paint the table legs and chairs green to match, but am enjoying the natural wood. I might live with it a few weeks this way and then decide. Either way, I couldn't be happier with the results (well, there is one tiny air pocket that annoys me!) especially for my first attempt.
I might be onto something here!