One way of distressing wood is with the use of Vaseline, crazy I know, but it is an easy way of getting the finish that you are looking for, you will need:

Two colors of latex paint. One will be your peek-a-boo, underneath color and the other will be your primary color.

Vaseline.

Light-colored candle.

Steel wool.

Water-based polyurethane.

Step One - Sand the frame down and paint with a coat of paint that you wish to see come through.

Step Two - When dry, either apply the Vaseline or rub the candle onto the parts of the piece that you wish to look old and worn, corners and edges look best.

Step Three - If you are looking for a old look the piece, you can this stage scratch it up a bit, you can use chains, keys or some other metal objects, but do not over do it. Now paint the frame with your top coat or primary color.

Step four - Take the steel wool, and rub the areas that have been cover with the Vaseline or candle wax, the top coat of paint will just come off very easily and leave a worn looking area, do not over rub.

Step Five - Once you have achieved the look that you are wanting the you will need to apply a few coats of the polyurethane, you can sand between coats, as this will add to the look, by shading the areas differently.

That’s it you’re done!

Source  [Curbly]