Paint choices for updating outdoor Christmas figures that are wood
I would say you are limited to using oil based paints to do this. You cannot paint acrylics over oils as the paint will later peel off or flake away. My suggestion is to buy a small inexpensive set of oil paint tubes. You can can buy an art set for as little as $20AUD. After the paint has thoroughly dried, give it 2 or 3 coats of an outdoor varnish to seal and protect it.