There are several different ways of painting on latex, all of which eventually flake off with age and stretching. The simplest, of course, is using straight out of the tube or can, latex paint. This sticks reasonably well for light use but flakes off easily under stress. Next in line is spraying with "Magix" shoe spray.   This adheres very much better but unfortunately limits one's color range and prohibits painted-in detail. It is very  flexible but unfortunately toxic as well. The latex and paint mixture described in project #5 is non-toxic, allows for  painted-in detail and a variety of color and adheres very well. It even stretches. Its main drawback is that it has a short shelf life. Painted on an object it will have great stretching  and sticking properties for a month or two, after which it will dry out rapidly allowing it to flake off. If an object needs to be made for rough use over a one month period it is the  best finish; if the object needs to be used with medium wear  over a two year period, Magix spray might be better used.

With more practice with projects #3 and #4, you may wish to experiment with mixing colorant directly into the raw latex. This method is difficult and only produces a pastel color range, but absolutely won't flake away with wear.