if you can find paint that will stick to metal, try buying stencils and stencilling a design on the can. You can also decoupage paper pictures or cut outs from cards or napkins or whatever. Just coat the can with Modge-Podge (an adhesive/sealer) then stick the paper cut outs down and seal with more Modge-Podge. Using decoupage, you can make themed collages for the bucket, depending on what room it will be in. You can cover it by glueing on strips of ribbon of various widths and textures or you can even cover it with pictures printed on inexpensive or matte photo paper.