yup, we most certainly do :) one of my fondest memories growing up was my mom covering large expanses of walls with newsprint roll end. we would spend the day covering that sheet of paper from end to end with amazing creations and colour (and of course they were amazing, as a 34 yr old adult i remember them quite clearly as Michelangelo-esque :P).
it is definitely something i have carried forward with my children...they love it!! it's a great form of expression, love that it goes against convention. and it has made a useful tool with home ed. along with paper on the wall, we use our windows as dry erase boards which dakota loves...would rather do his writing on the window or walls.
rolls of newsprint are easy to come across, phone your local paper and ask if they sell their roll end. i pick up rolls at ours for $2.50 a roll and we get months and months of enjoyment and entertainment out of it!!! aside from taping lengths of it to the wall, we use it for gift wrap, and many other craft projects!!