Lounge wallpaper ideas
It is rather hard to help without seeing some photos, a floorplan and knowing a bit more about the home and space. It is kind of hard to make a period room work without it looking like a stage set.
The roaring 20s were a rather flamboyant time and there were lots of frilly and festive things around.
There were a lot of beautiful art deco type wallpaper patterns in the 20s but they were pricey even then. Perhaps they are cheaper if in reproduction. You can also have your own wallpaper printed these days. From my experience the nicer and more authentic wallpapers are coming out of Europe these days but I don't get asked to bid on papering rooms much these days. Too bad because nice wallpaper, properly applied, can really make a home special. Good luck.