I ordered a vinyl border from WallPops. It's removable and can be repositioned. I chose the Tangier pattern because of it's similarity to Spanish tiles. It was the perfect height for the risers.
After I had finished sanding, staining and sealing with polyurethane the stairs, my friend, Veronica, and I spent about 45 mins applying the vinyl paper.
We used a small squeegee to get out any bubbles. Worked well with the vinyl.