We’re Redecorating a Bedroom into a Cozy Living Room

We’re on the way to accomplishing Item No. 4 in our Home Improvement Plan which is to convert an existing room into a cozy living room. The kids are fascinated with soft cushions and pillows in my sister-n-law’s sofa. They love jumping and even taking a short nap there. So, my husband and I decided to re-organize and repaint the bedroom at the 2nd floor of our apartment. 
This will be an exciting project for my and the kids in preparation for New Year’s celebration. My niece and I will be the one to paint the walls. We’ll buy a new sofa very very soon. L-shape sofa is my first choice for it’s perfect for a small living room. Papa promised to give us extra budget so that we can also buy a DVD videoke player. 
Meanwhile, let me show the themes I have in mind. 

Which design do you like best? 
photos are the not mine, credits to the original owners