Replace the wiring in the lamp. You can purchase a lamp wiring set or system at a hardware or home improvement store for under $10, according to Flea Market Trixie's website. This is an important safety precaution because an old lamp could have old, unsafe wiring to go with it.
Remove the lamp shade and set it aside. Cover the metal parts of the lamp that hold the light bulb with painter's tape. Cover the cord as well. Apply one to two coats of spray paint to the lamp base; try a bright, fresh color or a metallic one to give that old lamp new spunk.
Dust off and clean the lamp shade to remove dust and debris. Use a paint brush to apply decorative details like pinstripes or polka dots with craft paint.
Add decorative trim. Purchase ribbon trim with beading or ric rac trim at a craft store. Use hot glue or heavy duty craft glue to apply this trim around the top and bottom of the lamp shade to embellish it.