I painted a metallic peachy color on watercolor paper using acrylics first. When that was dry, I applied regular ol' Johnsons Paste Wax in swirly shapes. Then I painted more acrylics in two other colors and allowed them to dry. Finally I wiped off the paste wax and admired my newly-decorated paper!
Now for a shameless plug: Watch for my book called Creating Decorative Papers, to be published by Stackpole in 2012!