I would recommend doing it outside as it stinks and the rust from the steel wool will stain concrete so do it in a shop or over the road. DIY Vintage Wood Stain look. (How to age new wood). Good for all things wood!
Cute idea for the kid part of the craft room. I used the Ikea bar and container idea. MUST HAVE for your craft room if you have little ones! Will give them their own "supplies" and space so u can work with LESS interruption.