For the exercise ball planter I had found some heavy red felt (after Christmas) on the sale table at the fabric store. Any fabric that will absorb well, mostly cotton, will work. The heavier the better, bath towels work well or terry cloth on a bolt.
I draped a garbage bag over the ball, or over anything else for that matter. You mix portland cement into a slurry then dip the damp material into the cement and squeeze it through with your hands (always wear gloves with cement) then drape it over the ball. Once it is dry you can paint on more coats of cement to make it stronger. With the exercise ball I used some aviary wire as a second coat to strengthen the ball since it is so big. Then I painted two more coats of cement on. Don't forget a drainage hole!
I just use ordinary acrylic paints, or the outdoor acrylics from the craft store, on most of my outdoor projects. It lasts as long as anything else and you can get it in more colors. I just paint it on after and then seal the whole thing with a tile/stone/cement sealer from the hardware store.
The paint can ones are really easy and fast to make. Just cut your towel into a square piece, squeeze in the cement, and drape over a paint can or small bucket. The folds in the towel create extra strength to the design. Then paint on more coats to cover the fabric well.
Dee