B. Using the Same Method of "IEShwiz.exe" file used in Windows 9x/NT/2000:
1. Copy "IEShwiz.exe" file from Windows 98/Me/NT/2000 and paste in "%windir%" directory (C:\Windows, if your Windows is installed in C:\ drive).
2. Now open regedit and goto:
HKEY_LOCAL_MACHINE\SOFTWARE\Classes\Directory\shell\
Now under this key, create a new key "Customize This Folder". Now select this newly created key and create another key under it with the name "Command". Select this new key "Command" and change the value of "Default" in right side pane to IESHWIZ.EXE %1
3. That's it. Now open any folder and right-click, you'll get an option "Customize This Folder". Click on it and follow the wizard and you'll be able to set a wallpaper as the background and to change font color.
C. Using 3rd party software "Windowpaper XP" to do the task easily:

