Does the bottom photo show what you have, and the top is the new one? Are you staying with the purple carpeting? Do both a boy and a girl share the room? Are they very young?

So you’ll have both quilts one on each bed? I’d go neutralS and black or white.

Yes the pink horse blanket is what we have at the moment and the hedge hog quilt is what we bought.

Yes they will share this bed. They are 6 and 3 years old.

I'd replicate what the first image shows. It's darling. You can get vinyl stickers that won't damage the walls from Etsy to make the dots.

I would buy one more bed instead of spending money on decorations.

Even at 6 and 3, young kids like to have their own things. They will sleep much better if you give them their own beds and their own corners in the room. The room seems large enough to do so. Paint the room in a neutral color and use different quilts for each child.

I agree 2 twin beds with the same quilt on both for now the 6 yr old will have some opinions already as to color choices so keep the walls neutral and add pillows or a throw in the favorite color of the month.These are great ideas for bed placement depending on how much space you have

I was specifically asking for advice on paint colour and decorations. Both my kids are more than happy sharing a bed and will continue to do so. Talk about a generation that is all me, me, me.

Lol at everyone saying the kids will sleep better alone. All my kids have their own beds, and every night at least one bed is empty because they prefer to sleep with each other. And they are ages 3-11 and mixed genders. The two teenagers regularly fall asleep *holding hands* and they shared a bed until we moved when they were 11 and 12.

Parents know what their kids need.

OP I really like the colour of the walls now. It will look great with the new quilt. But to add some colour you could paint the window and door trim. I'd use the dark indigo blue that's in the quilt. It will go with the carpet and be easy to find accent pillows and curtains in shades of denim and indigo.

For decor I would definitely include a framed photo of your family all together. Kids seem to universally love seeing photos of themselves with the people who love them.

I think a pale aqua, one of the colors in the new quilt, would be pretty on the walls, like Ocean Air from Sherwin-Williams. Do you have bookcases? One for each child for books and toys would be a practical addition and add to the style of the room. I think I’d paint one in a deeper aqua and one in an apricot. Maybe you have enough space to use them on either side of the bed as a night stand, too. Do you sew? Valance and cafe curtains would look sweet and let in lots of light for playing or you could find Roman shades. Good luck—I’ll bet the kids will like the look of their new room.

Thank you Lindsay. The walls are white right now and need to be freshened up. The carpet is actually a grey. I did buy each of them a frame to hang some personal pics in each.

To answer your specific question......Choose a color from the quilt for the walls. If you choose a neutral, decor can change without repainting every time you want to change colors. Bring in 2 or 3 brighter colors from the quilt for accessories, pillows and art. putting up photo shelves allows you to change out pictures without putting more holes in the walls. Frame some of their drawings. amderk sorry but I don't get how suggestions you get them twin beds has anything to do with a generation of "me me me" any question posted on houzz is going to give you suggestions on more than you specifically asked. I know they are young but separating them now and giving them their own space in a combined room seems smart to me. I would have suggested it myself. It is your home and you are the only one that knows what works for your family and lifestyle. But You or they will eventually want separate beds if not separate bedrooms when they grow older. Why not consider it now

Agree with others that feel that the six year old has reached an age when it would be better for you to use your children's bedroom budget for twin beds rather than non-essentials or decorations.

Budget permitting, invest in a matching pair of metal twin bed frames (or at least one) (preferably with wheels) that can be adjusted to either a twin or a full bed.

If your budget is small: Embrace the adventure of shopping Habitat For Humanity Restore Stores and/or Salvation Army Family Stores and/or GoodWill and/or charity thrift stores. Sometimes you can even find a bargin at "antque and more" used stuff stores.

A mattress and padded platform "bunkie board" (such as are often used in bunk beds) will likely be less expensive than having the mattress set on a box spring.

You can then still use your full bed quilt ( really nice quilt, by the way) with a twin bed by increasing the height of a standard twin bed by adding risers to the legs -- something that will also enable you to have under bed storage. https://www.walmart.com/ip/CreativeWare-Adjustable-Bed-Riser-System/5148131

I know lots of kids who share a bed. Do what works for you! For me your quilt isn’t gender neutral though. If your kids don’t care it doesn’t matter though. Can you take more pics of the space?

Whoa. Not touching this one.

Nice colour. Frame some of the children's art

How about a bookcase blue lamp and that alpaca head ? Pretty gender neutral all at boutique target. My kids love their teepee. I got a fake fur rug to go under it. It’s soft and fuzzy

If there isn't room for a pair of twin beds, consider investing in bunk beds.

She wants her kids to share a bed. Some people here have an issue with that but the OP doesn’t so let it go.

Budget is not an issue. Kids are happy. End of discussion.

I’d pull in blues and greens. Give each kid a magnet board for displaying art and creations. Add in table and chairs and then a storage unit for toys, books and what not. We’ve currently got our kids dresser in the closet and I love the added space it creates in the room.