Wainscoting can definitely add a beautiful architectural element to your home, but unfortunately the costs add up and it's tedious to install. You can still achieve the visual effect of wainscoting by adding the same character with wallpaper, though. Cover the top three-quarters of your walls with an open patterned wallpaper, perhaps florals. Then, for the lower quarter, hang a linear pattern horizontally instead of vertically, to mimic the look of the boards of wainscoting. For instance, here a horizontal lace design was used. And, you can make more of a statement by trimming the paper with a scalloped edge.