Many years ago I helped with something along these lines. We were aiming for a flatter rock effect and used Artex (the plaster-based material used for textured ceilings) on an already-plastered wall. If you wanted the rock to stick out more, the foam-cored, cement-faced tile backer boards that are available in a range of thicknesses would be a stable, lightweight way to build up some thickness under the Artex. You'd need to sculpt features before putting them on the wall.
How you paint the finish is crucial to the effect. My recollection is a little hazy (25 years does that) but I recall:
- a base coat made by poorly mixing 2 or 3 similar shades (you don;t want it perfectly even) applied with
- a roller meant for rough surfaces
- and a coarse brush as used for fences
- We might have mixed some fine sand into the base coat, used sand-loaded masonry paint, or I might be thinking of a different project.
In addition, we used rag-rolling and maybe dabbing paint on with sponges*, using both lighter and darker shades in the same palette.
Some cautions and further tips:
I suggest you ensure nothing pretends to be a handhold, or you will get people trying to climb it and ripping the finish off the walls.
This won't be easy to remove afterwards, so make sure it's something you want for the long term. Quirky stuff like this is also unlikely to help your resale value.
Store the leftover paint in case of damage needing touching up. Things like corners of furniture can damage the surface, but it's quite repairable. It's not like you need a perfect colour match on repairs, but you do need to blend in the pattern.
Think of specific rocks that you like the look of, and aim to imitate those. Some rocks have bands of colour that you could add if you're artistic enough.
Lighting arranged near the walls can produce shadows that make 3D features look much deeper than they are. This is done in the photo in the question, where the recessed lighting also provides protection for the rock effect wall.
Faux stone wall products exist. The ones I can find online are meant to look like rough-cut stone walls, but I'm sure I've seen bare-rock-effect in the past
* I've since produced a flat moon-rock effect by stenciling a white crescent background and sponging on silver paint, so it works but I can't remember whether we did it back then.