There are a few methods you can use to paint your drop ceiling panels and give them a new look. Protect the area where the wall meets your ceiling with painter's tape and then spray paint the entire ceiling which includes the support grid. Use spray paint cans or a power sprayer to do the job quickly. Another method for painting the ceiling is to remove the tiles, paint them individually and then replace them. You can leave the support grid its original color, or paint the grid a different color than the panels for contrast.
Textured ceilings can sound like an expensive process, but it is something you can do on your own with materials bought from a local home improvement store. One of the more common textures for a ceiling is referred to as a "popcorn" texture. You can purchase texture spray cans in a variety of colors to give your ceiling a unique look. Some textures also include small amounts of glitter that can catch sunlight and create a sparkling effect on your ceiling.
If your ceiling is high enough, you can hang curtain shears, draperies or tapestries from the ceiling to cover up the ugly ceiling panels. Make sure that you will have enough head room to walk comfortably around the room after installing your overhead decorations. You can also hang small items from the draperies to create a theme. For example, if you want to create a outer space theme in your room, cover the ceiling with dark tapestries and hang small star and moon decorations that glow in the dark.
Sometimes the best course of action to take with ugly ceiling panels is to replace them. If the pattern on the panels is not something that fits your room decor, or the panels are rotting and falling apart, it would be safer to replace them completely.