I personally would prefer a darker stained wood with a creamier paint, but that's just me. I was amazed at how easy it was to create this look. Here is the tutorial from Better Homes & Gardens:
1. Prepare chest and drawers. Remove drawers and knobs. Lightly sand and wipe drawers and chest. Using painter's tape, tape off outer 3/4 inch of each drawer, wrapping tape around edge of drawer.
2. Affix doilies to drawers. Following manufacturer's directions, use spray stencil adhesive to adhere double layer of doilies to center of each drawer.
3. Apply auto-detailing tape to drawers. Start in one corner of one drawer and run strips of tape diagonally across corner, spacing strips 1/4 inch apart (see Photo 1). When that corner is complete, move to next corner and run strips diagonally across corner. The strips bordering lace should meet at a point on center with doily. Repeat for opposite side of drawer. Fill in corners with additional strips of tape, forming lattice pattern. Lightly run plastic card over tape to seal it to drawer. Repeat with remaining drawers.
4. Paint design. Apply 2 light coats of spray paint to taped drawers, letting paint dry 1 hour between coats (see Photo 2). After final coat dries 1 hour, carefully remove tape and doilies. Let paint dry completely.
5. Finish all pieces. Apply 2 coats of clear acrylic sealer to drawers and chest. Reattach knobs.
This is definitely one of my top choices for refinishing that ol' dresser.
enJOY your day!