I unscrewed the top from the metal base, taped the base's black bottoms and spray painted the rest white. Helpful hint: use a spray paint that adheres well to metal.
Then I tore all of the ugly red vinyl and batting off the top and replaced it with a clean layer of batting, fabric and clear vinyl. I used my handy staple gun to secure the layers in place just as I would when upholstering a chair.
Finally, I screwed the top back onto the metal base. The entire process took me a few hours with drying time. Super simple project that made a huge difference.
Guess it's time to head outside for a princess tea party!
P.S. Isn't my little model cute? This is her pretending to drink a "lovely cup of tea" (her words, not mine.)