That is really, really cool!
EDIT: As to painting, if you start of with a series of grey colours, dabbing them with a sponge or large brush, it would be a good start. I would then water down some black gesso (water-based undercoat, usually pretty cheap from art shops) as apply that as a wash. I think you'll find that will blend in the shades of grey. After that, get a really light tone and highlight the edges.
You could also go for a covering of polyfilla, or other wood filler product, to add some not-foam texture. I would also suggest pressing a rough rock on to it.