We all have one of these ugly knife racks in our kitchen, and it is not economical to go and buy a new one.
So why not paint it. I painted mine a taupe color because I want it to go with whatever colors I plan to have in my kitchen in the future.
I also had a scrapbook paper that I just love, so to give my knife rack a little more character I modge podged it on the front. Also don't forget to vanish it because it is in your kitchen it is going to have to be wiped down eventually.
My husband laught at me when he got home, but I think it is awesome.