My God, that's adorable! I'm not much of an Oz fan myself (I did like Wicked--both the book and the musical--quite a bit though) but my sister is a HUGE Oz fan. She's got her baby's room done up in Oz stuff.
I love the idea of reviving old wooden furniture. I have an old wooden chair my grandma didn't want (there were 2 of them) so my mom took them, sanded them by hand, stained and varnished them and my sister and I each have one. We got them 20+ years ago and it was my computer chair for the longest time.