Read the directions on the container of drywall mix you purchased at your local home improvement store. While water is normally added to the mixture, you will be substituting paint for water to help create the final compound used for covering the wall. The ratio of paint to water is not exact, however, and you will need to experiment with the ratio of liquid to dry mix for a proper texture for the perfect tint.
Pour the dry mix compound into your 5-gallon bucket. Add about half the water that the bag of drywall mix calls for and substitute the other amount with the liquid paint. Use the low-speed drill with the drywall beater to mix the components together until you have achieved a thick, creamy mixture that is the consistency of thick biscuit batter or thinned-down peanut butter.
Adjust the ratio of paint to drywall until you have achieved the proper consistency. Color is based upon your personal preference, and the more paint you add to the mixture for color, the more drywall mix you will need to include to keep the mixture creamy instead of runny. Allow the mud to rest for 15 minutes before use so the compounds can soak together, and remix it before application.