Opinions Required!

Ok Creators! I need your opinions.

I found this wagon in our alley with a “Free” sign on it and snagged it for my son who is 2. Obviously it has seen better days but it still rolls well and can totally be refreshed!

I’ve removed the wooden rails and sanded them down, and cleaned up the metal wagon as much as possible, but now I’m stuck on what to do. Should I stain? Paint? I’m just not sure! I know I could just restain the wood and repaint the wagon red and call it a day, but obviously I have an opportunity to be more creative!

Should I try a new color scheme? Would you stain the wooden rails, or paint them? Any and all opinions are appreciated!