how to revamp a Bentwood

I have always had a thing for op-shopping, whether it be for clothes and shoes or furniture as I now seem to be obsessed with (although I can never usually find the time for op-shopping or revamping! Is it just me who has this problem?). It must have been one of those lucky days that I decided to check out a junk shop on my way home one day - and sitting outside was this bentwood chair! I knew I had to have it. It was $25 but I got it for $20 - bargain! Now my dilemma is how to revamp it...

I have a few ideas. Here's what I'm thinking (after sanding, and replacing the awful seat):

1. Leave the chair in it's original colour - like this one

2. Paint the chair white, perhaps using Porter's Paints Milk paint (and if I get creative, I'd like to create a cushion insert for the seat using a nice fabric) - like this one here and here

3. Paint the chair a canary yellow - like this one

What do you think? What would you do if you owned this Bentwood?

I look at it every day as it sits in the corner of our bedroom, crying out for me to do something to it, so I'm hoping to for some Monday inspiration..