Can I paint this?

[whoresonthehill.livejournal.com]

I bought a kickass purse at the thrift store today - it's made of straw and has orange... vinyl trim? Basically, a firm, smooth, plastic-y type material. It's a very very very bright orange, and I would much rather it was more subdued - like a green or brown. But because it's so smooth, I'm not sure if I can paint it. I even thought about taking off the trim and trying to make my own and resew it, but I love the purse so I'm scared that would just ruin it.

Is there a type of paint I can use to paint it, and then maybe add a sealer? I can probably sand the orange bits if that would help the paint stick, but I'm worried how the resulting texture and finish would look. I could always add fabric over the orange bits or even colored duct tape (can you tell I dislike the color) but I don't want to make the trim and handle too thick. I would rather have the purse orange than ruin it, so I'm afraid of just experimenting. Suggestions?