A Happier Home For My China

Maybe it is the weather, maybe it is the fact that my bank tells me I should not be doing "personal home projects" right now, but I am itching to do something. I need to keep it small though. Y'all already know I want to paint our front door, but since the weather is too cold, I am looking for other things to paint. Then I saw this picture in Domino this morning....
Be still my heart. I am in a definite stripe AND blue phase right now, I knew what I should do. I need to change the back of my china cabinet (from my Grandmother). It is currently a funky yellow and gray wallpaper, which I do like a lot, but I want a change. So I was thinking about painting it (Mom we will discuss this later, I know I just made you panic).
Let me just pause here to say that this project and the Domino picture above make me think of my friend Brooke. The image below is one of our favorites and another inspiration for this project.
So do I paint it? Do I use another wallpaper (which is just tacked up at the moment)?
I need suggestions. I am leaning towards stripes which would be cheaper to paint than wallpaper, but can this be done neatly without chipping one of the colors? (by me) Help!

*First and last picture Domino Magazine
*Cabinet painted blue inside Cottage Living