What is the easiest/cheapest way to cover an ugly wall that needs work
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https://www.pinterest.com/explore/wood-walls/
What is wrong with the wall? Is it peeled off paint and drywall? If it is, it would probably be much easier to patch it up and repaint then it would be to recover it with something else.
Fix the problem and repaint. Should cost less then $30.
Venetian plaster hides a lot of flaws
Faux board and batten about 2/3 to 3/4 up wall. Top board, bottom trim board, and slats spaced 18 or so inches apart. Then paint all a solid color - will look like the whole thing is solid wood.
Tapestry
Large Mirror or Pictures or Poster or Hang Quilt or Collage............
For me, it would be wallpaper. I always have a stash of wallpaper bolts (double rolls) on hand to use whenever I want or need to change something. I buy only what I like & appeals to me.
I never ever spend much money for it. When I go to thrift stores, yard sales, flea markets etc, I watch for lots with several bolts alike that I can get at a bargain.
When I need paint for trim to go with a wallpaper pattern, I go to Sherwin Williams & ASK for a reject paint that can be tinted or mixed the color I need if they don't already have one that will work. I usually get this high end paint for well under $10 gal.
This is what I call decorating on a dime.
If you can, build or buy a large frame for stretching artist canvas, then staple some fun fabric over the frame and hang them on the wall. You can really go big with this if you build your own frames/stretchers.
I would use drywall mud, roll it on, then prime and paint the wall a color that goes with your room.