I’ve seen this artistic fundraiser done for different events. Basically, you pick the item that will be decorated for the fundraiser (chair, stool, picture frame, fiberglass animal, etc). Then you find local businesses to sponsor the chosen item. The company can either decorate it themselves or sponsor an artist to decorate it. The items are on display in a public area for a month or two to generate excitement (and a bit of competition). Then the whole event is wrapped up with a charity auction where the public can bid on the items to take home.
Here’s a link where Adirondak Chairs will be decorated in Racine - http://www.biztimes.com/bubbler/2009/2/19/downtown-racine-corp-picks-name-for-chair-promotion
Three Gaits has done a “Chair Affair” fundraiser for years and raised more than $20,000 in 2008 - http://www.3gaits.org/news/2008fall.htm#chair-affair-update