It doesn't matter how many smocks you wear in attempt to guard against stray paint splatters, sooner or later it will magically migrate to your clothes or furniture. Usually at the worst time, but no worries, even if the spot has time to dry, we've recently learned a trick that takes out the once permanent stain!
Claudine Hellmuth happens to have her own line of craft paint and was recently on tour doing demonstrations. It wasn't until a few days after the fact that she realized her paint had leaked in her suit case.
After soaking the spot with rubbing alcohol (yes the cheap stuff from the drug store) and scratching with her fingernail against the grain of the fabric, she tossed her stained jacket in the wash and it came out clean.
Although this trick works best with fresh paint, she gave it a shot anyway and it brought the stain right out!
You can check out the step by step process over at her blog, along with photographic proof of the paint-stain journey.