you'd have a really hard time making it water proof --- not the same as 'water resistant' ... and on an upright surface would be even more difficult ... you could possibly try making panels from a lightweight shower wall material, laying on a flat surface, apply the brown paper pieces, then use a poured epoxy resin ( like a bar top finish ) before installing on the walls .. but would be very labor intensive with questionable results!
If you are talking above a shower/tub unit-perhaps! If you sealed it very well with marine spar poly that's waterproof. Just keep in mind that later when you want to change up things it probably won't be able to be removed from the dry wall.
You definitely require something that is waterproof and paper is not it.