Many people like to paint crown molding to get the color to match the decor of their room. You can purchase unfinished crown molding with elaborate decorations on it that you can paint to any color you like. Painting crown molding is a two-step process in order to get it done properly. The first step is to paint the molding in a controlled situation before installing it. After the molding is nailed into place, use liquid wood to cover the nail holes. After the liquid wood has dried, go over the nail areas with the crown molding paint to finish the job.