Bob, I paint some of my giant scale airplanes with latex paint. You can get just any color, I go to Lowes or home improvement store most of the time they can match any color with their computer. You can spray it on or use a brush. For your Cub you should use a fabric covering. Balsa USA has the best covering available Solartex. It comes in colors and it is easy to apply. It is fuel proof but it is recommended that you seal in with a Ploy coat. You need to check out their web site.
Here are a couple pictures of my 1/4 scale Cubs covered with Solartex. The yellow Cub I sold, the white Cub I use to mount a camera to take over head pictures.
Rich