I saw this idea in 2 or 3 of my magazines this month, so it must be the 'in thing'. I think it is a pretty cute way to update existing chairs, stools, or tables without much work or cost. You can either paint just the feet of the furniture piece a different color, or if you have a plain wood colored piece, you could paint everything but the feet. Spray paint or regular paint and a brush would both do the trick. Check out these inspiration pictures below:
(Source: Better Homes and Gardens, Jan. 2011)
I've thought about someday doing some type of paint treatment to the top of our dining room table to cover up a bunch of scratches and lovely white spots we have from putting hot dishes and cups on the table. Oops. Anyway, if I do that maybe painting the feet of the dining chairs a coordinating color with the tabletop would be cool.