An artist in Tasmania is altering discarded Bratz dolls. He/she gets them from second hand shops, repaints their faces with more realistic features and no makeup, and gives them new molded feet and new (often knitted or crocheted) clothing. The end result is a completely different doll on the same body. Whether this is an improvement or not depends on how you feel about Bratz dolls, but you have to admit, the work is well done.
Tree Change Dolls will soon be sold through Etsy, but for now, you can see them at the Tree Change Dolls blog. -via Metafilter
http://fc06.deviantart.net/fs71/i/2015/020/2/9/rapunzel_repaint_before_and_after_by_heliopteryx-d8er28o.jpg
http://fc04.deviantart.net/fs70/i/2015/020/b/1/monster_high_werewolf_before_and_after_by_heliopteryx-d8er2rs.jpg
It's a surprisingly easy hobby to get in to! Just google "doll repaint tutorial" and there's mountains of information.
I use ordinary acrylic paints and some clear spray lacquer to protect it. If you want to get really fancy, you can also use chalk pastels and watercolor pencils. http://www.amazon.com/Testor-Corp-1260-Spray-Testors/dp/B0035LOUMU