Is there a pain I can use to keep yard decorations from fading?

Maybe look more toward a sealer to protect against sun and weather.

Try a marine varnish

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I spray all my outside ornaments with polyurethane spray (a couple of coats) prior to placing them outside. You must do all sides a few times. I have had to repaint some (due to chipping etc), after they dry, I given them a few coats of the clear spray. Not sure if this will help in Nevada, but it has kept most of my outside things nice for several years.

Try painting then cover with a clear varnish...

Put your items in the shade!!!!!!!!!!!!!!!!! Sun has a way of fading all colors! Even flowers if they last more than a few days.

Especially where you live. I live in CA and it is very hot here, My items in the shade do not fade as quickly but if in the sun, they only last one summer.

Actually I always spray several coats of clear finish. Nevada sun is the worst!

For items that have already faded, you could try Krylon Fusion. I've used it a few times, but I was reading some testamonials a couple of days ago, about people who used it on plastic car bumpers and trim. The one guy said it has held up on his Jeep trim in the Texas sun for 2 years! I have used it on ceramic tile indoors, so it can be applied to different surfaces.