Well designer Andrea May did just that in this sweet nursery whose crib is a work of art:
I mean, how precious is this? And those sconces are just as amazing in situ as I thought they'd be. I found this nursery on Leontine Linens' blog...the monogrammed crib bag is theirs and its on my wish list for my own nursery.
And check out the custom monogram they did on the cornice:
Again, so sweet and gorgeous! Love it.