Hi Betty, you can sand it down and then either stain it or paint it. I used Varathane on mine because I didn't want any color, just the wood to show.
Here are some Hometalk projects about it
In what way are you thinking of redoing? You can paint wood with chalk paint or fusion mineral paint without having to sand (although a good clean is essential though). There are a variety of projects here on hometalk https://www.hometalk.com/search/posts?filter=rocking%20chair
The rocking chair has been in the family for generations. So, years and layers of paint later I want to bring it back to it's original wood under all that .vI think it's oak!
To bring it back to its original state, you'll need to strip the paint. Be patient, it's not a quick process. It's also messy and can be smelly so make sure you do it in a well ventilated area.
Have you thought about painting it with chalk paint? Here is a post I wrote with these easy steps. https://lifeonsummerhill.com/how-to-paint-with-chalk-paint/