Although this space might strike you as a little circus-y, the way these stripes are painted gives the illusion of more height. Many children's rooms are on the small size (for obvious reasons) and playing with the eye to make things look larger than they are can be a neat trick.
This paint treatment doesn't just include the ceiling, but in fact comes down the walls slightly which gives it a little lift. The large geometric lines would provide a great backdrop for things like model airplanes, cloud pillows or planets. Instead of circus-y it could feel more like a sunset, or possibly something else entirely if it wasn't painted orange or red.
This kind of ceiling treatment could stay as the decor of your children's room shifted through the years if it was a neutral color, but would always be in style as large, bold, graphic designs are always in. Do you like the look?
(Image: Jonas Lundberg via Anna Truelsen)