I did a similar project about a year ago. Once I was done with the popcorn in this Christmas bucket, I decided to spray paint it, rather than throw it away. They make good solid trash cans.
I had some Krylon spray paint left over from another project. Had plenty to do the can with. It's in high gloss with the color navy blue.
Here's it when it's done. You can't hide the designs (with ease anyway) but with a trash bag over it, you can't really tell either way.