The next step will vary according to what is already on your fountain and what type of product you use to refinish the surface. Concrete water fountains can be painted with an exterior latex or oil-based paint. You can also use a concrete stain. If you go with a stain, you need to remove the old paint and sealer with a concrete and masonry paint stripper. If you decide to paint the fountain, you can skip the stripper and apply a concrete and masonry bonding primer. The primer should be used with both stain and paint.