This is from AquariumPro.com.
I wish to paint something to place in my fish tank. Which kind of paint is safe to use?
We're just as worried about "WHAT" you want to paint as the paint you want to use. We have seen too many cases where fish were poisoned by items placed in the aquarium which released toxic compunds or chemicals. We do not recommend putting anything into an aquarium which was not made to go into an aquarium, so don't take this advice as our approval of your idea: The only paint we would recommend would be marine epoxy, or model hobby epoxy paint, which has been allowed to cure for two weeks before use in the tank. Ceramic objects should be well-glazed and fired before use. If the wrong paint is used or the item being painted is not inert, you may still have problems with this.
Also, I read on another site, to use epoxy paint or finish, if you have algae eaters in the tank, they will eat it off otherwise.