Read the manufacturer's instructions on the wood finish remover. Use your old brush to apply a thick layer along the grain of the wood. Let it sit for the recommended amount of time.
Scrape the old finish off with a flat blade. It should come off easily and will likely take all the color out as well. If it doesn't come off easily, repeat the process. Use your sandpaper to remove any remaining stain. Some prefer to use steel wool rather than sandpaper.
Wash the wood with mineral spirits to remove any traces of the paint and varnish remover. Check to see if the wood is uniform in color. If not, you'll need to bleach the wood. Let the wood dry for a few days before applying bleach. Remove the bleach with a solution of half water and half vinegar.
Sand the wood to an even surface. If you like the color of the natural wood, simply apply a clear topcoat. If you want to make it a lighter color, apply a pigmented stain, but realize you will lose some of the grain of the wood.