Stain or Dye

Milk paint may be an option, followed by a clear shellac.  It may obscure the grain a bit more than dye but could always be knocked back with some light sanding.
 
sawdustinmyshoes said:
Milk paint may be an option, followed by a clear shellac.  It may obscure the grain a bit more than dye but could always be knocked back with some light sanding.

But readers here should be aware that General Finishes “milk paint” is a modern acrylic paint made to have the milk paint appearance.  It is both indoor and outdoor rated and applies beautifully—the best brush-on finish I have ever used.  But it is not milk paint and the non-toxic rating might not apply. 

Other “milk paints” may also be look-a-like finishes.

Note:  General Finishes’ “milk paint” is best applied with a foam brush.  I never have any hint of brush strokes appearing when it dries.  It looks like a factory sprayed on finish.
 
I’d stay out of the crib business. Too many other things to build that are a lot less controversial. Even if a crib death was not a result of the construction of the crib, such as SIDS, you would still feel horrible. Toy chests with slow close mechanisms, craft tables, sand boxes, children’s toys will be more fun to enjoy with them.
 
I’ve been making wooden toys.  Almost as scary as cribs. 

I would say that as a rule, children that are still teething (usually ends at 2-1/2 to 3 years of age) should be kept away from wooden toys.  That is probably not an option with cribs.

I would note that the Montessori stand that I pictured above carries a warning (on the original Montessori edition) that says, “Adult supervision required”.  Again, not much chance of that for a crib.

I rely on the manufacturers’ claim of “non-toxic”.  If there is ever an issue, I will point to the deep pockets of the manufacturer of the finish.  That is not much protection if your project harms a friend’s child. 

I see children’s pull toys with parachute cord for the child to pull the toy.  If the string on Venetian blinds is a hanging hazard, parachute cord would be too. 

Once you start thinking about safety, it can paralyze any project. 
 
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