Get three or more colors of latex paint. To create the illusion of depth, select one light color, one medium-toned color and one darker color.
Pour each color into its own paint pan. You wll need to dip a trowel into the paint, and the paint can opening may not allow for this.
Dip one flat side of the trowel into one of the paint colors, then swipe it across the wall in a fluid motion, as if you were applying plaster. Continue to apply paint randomly in this manner and switch colors occasionally to get the look you want. It is not important to clean the trowel between colors, as some mixing will add to the illusion of depth.
Allow the paint to dry completely.
Apply tinted antiquing glaze to walls to unite the colors and add richness, depth and translucence to the effect.
Get two colors to create your faux stucco walls. It is best to select one light or pastel color and one darker color of the same hue.
Apply a base coat mixed from the two colors you will be using. You can mix the paint yourself, using any proportion of light to dark you like. Aim for consistency if you need to mix more, but don't worry if there is some variation in the base coat.
Use a roller to apply paint to a 4-foot by 4-foot section of wall in sweeping, multidirectional arches. After you have randomly applied patches of one color to a section of wall, use a new roller to apply the other color.
Blend the two colors in a random fashion using a dry roller, one section of wall at a time. Some spots should be blended only slightly, while other spots should be blended more so the transition between sections is jagged, not straight. Use a lamb's wool pad to blend specific areas, patting it lightly against the walls.
Use paintbrushes to refine the blending process. You may need to dab key areas with a dry brush or lightly apply a bit of one of the colors to get good results. If you have blended properly, you should be unable to detect the joints between sections.