Here are a couple of stepstools I just did.
The first is maple and walnut with a clear shellac finish.
The second is based on a recent FWW -- I made it out of cherry and walnut, rather than maple. I finished it with a shellac sealcoat, BLO and then amber shellac. In retrospect, I should have used mixed in some clear shellac coats with the amber, as I think it got a little too dark.
I am also not sure how wise shellac is as a finish for a stepstool, but I figured it would be easier to repair than varnish. Also, I like how it looks better.