This piece of fabric was one that I did a folding and clamping technique to a while ago. I have some plexiglass circles and circle cutouts and here are some pictures just to show you how I did it.
Golden High Flow Acrylic from Dick Blick, by the way. These paints are very bright, don't need watering down, and don't change the hand of the fabric.
Dyeing seems like it's always the first technique I choose. So, I folded it up again, accordion style this time, and dyed it a darker solution of the same mixing blue color. (The yellow piece is another piece I just stuck in there with it).