Carol made a decorated cell phone stand. She used a coating called Plasti-Dip (in a very dashing yellow) in order to paint her InstaMorph. It seems to work quite well.
“Plasti-Dip works very well so far, it sticks on just fine, and the phone hasn’t rubbed it off. It peels off, making reusing the underlying InstaMorph possible. It’s actually quite durable, too. The yellow plasti-dip I used in this project is leftover from painting my motorcycle from months ago, still looking good. I have only tried spray painting plasti-dip, not hand painted or dipping, but I don’t expect any problem.”
You can check out the rest of the Instructable here: http://www.instructables.com/