Sand the floor as you would do for a regular finish and prime the area. Use a machine sander to remove the layers of finish. Hire a professional if you have not used this machine; it can damage the floor and cause injury.
Determine how much of the wood grain you want visible. A thin paint coat will allow more grain to show through. A nearly opaque paint will cover the grain but still allow it to be visible.
Create patterns on your faux wood floor using stencils; it is advisable to keep your wild side under control and choose designs that complement rather than clash with your furniture and room décor. Use store-bought stencils or create your own pattern using painter's tape.
Start painting using a roller, then remove the tape when the design is completely dry. Apply a thin coat of shellac spray to prevent bleeding and allow it dry well. Apply the sealer to protect the floor, following the manufacturer's instructions.
Apply wood stain -- for example, light oak -- to the entire floor and allow it to dry completely. Always follow the manufacturer's instructions when doing the work yourself. If you want to create a design, use dropcloths to protect the areas without design. Next, apply a darker stain like cherry with a rag or piece of cheesecloth. Do not apply the stain with a heavy hand or it will bleed, and let it dry thoroughly.
Remove the tape and apply the sealer, using the right kinds of paint and sealer on areas that see heavy traffic.