Works, but I'd put a lot more colours on - what first came to my mind aftere I saw the pic, were Alesander Calder's mobiles and that's what I would stick to as an inspiration here - simple colours, somehow suspended in space - making it more interesting this way
IKEA is generally affordable and often good - I'd say 1 in 10 items are really good. But I wouldn't go for decorating whole rooms there - it's gonna look IKEA-style as hell and that's not good.