We decided to paint it, after the holes were filled and sanded. My 5 year old picked this nice blue color. In this picture it's got a coat of primer and the first coat (of four) of blue paint. It's quite a rich color and I'm debating another coat and whether or not I should varathane it. My little guy is a keen helper so he got a birdhouse from the craft store to paint along with me.
For now, it has a 2" mattress cut from foam, and little sheet to cover it. I think I will box the corners and put elastic around to make it a proper fitted sheet. There is a seam across the middle of the sheet because it's the scraps left from the quilt. There is a plywood base under the mattress too. It's very sturdy.
I also made a quilt and two regular pillows. Most of the fabrics used was scraps from the last few months of sewing. The bed was also made of scraps from the garage. Scraps are cost effective but not time efficient. My husband had to rip 2x4 lumber into 1x3 and 1x2 etc. The only things purchased for this were the paint/primer and the foam for the mattress. Up next will be a flat sheet, two pillow cases and a decorative pillow or two.
Thanks for looking, enjoy the rest of your weekend!