Ravensbourne School pupils were the first group to paint a mural on the wall after an invitation by Keep Dunedin Beautiful.
The first panel was painted on Wednesday and pupils returned yesterday to complete a second.
Principal Megan Odgers said art teacher Paula Taylor designed the mural, which included the school's logo, and it was painted by year 6 pupils.
"They loved it. It was really good taking art from inside to outside."
Positive comments from passers-by gave the children "such a buzz", she said.
Community groups, schools and individuals are invited to apply for approval to paint a mural on one or more panels of the fence, stretching from the Water of Leith to Leander St.
More information is on the Dunedin City Council's website, www.dunedin.govt.nz/kdb-art-project.