One of those great IKEA staples. The Kura bed. (the discontinued Lillberg sofa also rocks) I almost got this for my girls. In the end I needed something that I could easily get into if they wanted me to lay with them. Plus, the bottom is too cramped if you use a standard mattress. But if that's not an issue or you don't mind squeezing into the bottom, this little gem is something special. The nook ideas are really endless. It's fairly inexpensive as well. Especially if you Craigslist it. I found this listing for only $75. It seems like the majority of people change the blue panels out which would be fairly simple. I will be a sad day when IKEA stops selling this creative little gem.
Add christmas lights. But be sure they're not the hot kind for safety issues of course. Via Southern Disposition.
I think this is actually a hacked Mydal bed but you could do the same thing with the Kura. Via Marie Claire Maison.
Add bookshelves next to the bed for a mini-library reading nook. Via IkeaHackers.
Fort Kura. Via Apartment Therapy.
Paint and add wallpaper to panels. Via Underbaraclara.nu.
Cute firetruck. Via Apartment Therapy.
Under the sea. Via Jojoebi Designs.
Like her colors. Via Crafty Rachel.