<--- before and what you'll need + paint (I used acrylics), glue (for wood) and/or nails (the long ones), also a hammer and brushes.
How I did it:
cleaned and sanded down the parts (let them dry), painted them and let them dry and then I just fixed the feet to the main part with glue and nails... I used a stencil to decorate the surface. And voila: coffee-table.
I got the palette for free from work, bought the wood pieces for the feet for 6,00 €, so all in all I would say this coffee-table cost maybe 10,00€ and a weekend of my time (most of the time it was in various states of drying...)
I think it could also look great in blue or yellow.