Disassemble the piece with a screwdriver if possible. Taking the furniture apart lets you work on each individual piece separately and gives you more control. Place the screws in a safe location and make sure you know how to put the pieces back together.
Sand the pressboard furniture with coarse-grit sandpaper. Remove any varnish or lacquer that gives the piece a shiny texture. Sand the piece a second time with fine-grit sandpaper, leaving behind a smooth surface on the pressboard.
Paint the pressboard with one color of the paint. After the first layer dries, apply a second coat. Pick two colors that complement each other, such as bright green and white paints or red and black paint.
Rub the piece with the fine-grit sandpaper, sanding down all areas of the pressboard. Exert more pressure on the edges and around any handles, which are places that typically show wear and tear.
Apply a coat of the second paint color after sanding. Once the paint dries, sand the piece down again. Apply a second coat of paint and sand again. As you sand, you remove the paint and reveal the different shades underneath.