I respond to the cocktail umbrella as an object (I'm a sucker for a miniature), the fact that you can actually open and close them. But I'm also enamored of the way the paper plays with light. Then there's the cocktail aspect, of course, which totally appeals to me on a "dessert as drink" level.
This wall treatment is a simple decor idea I came up with for The Land of Nod catalogue. It has impact but isn't intended to last forever (tho I could see it looking great for a year or more - depending on how gently you dust). Temporary decor can be far more magical than something you're committing to for the long haul. This concept is remarkably inexpensive and really easy to do. I used umbrellas in a variety of colors and two different sizes. I gently opened each one far enough that it popped slightly inside out. I then snipped the stem with garden sheers flush to the white collar. I balled a small piece of clear butyl tape, stuck it to the bottom of the collar and adhered the umbrella to the wall with enough pressure that it didn't droop. I like the random overlapping pattern dense enough to obscure most of the wall.