Westeren Red Cedar(WRC)when left alone to age naturally(this means no stain or finish is applied)will over time become a silver-gray color and the grain will raise slightly. This is a perfictly acceptlble finish for WRC because of the natural ability to resist insects and rotting.
Painted lawn furniture can look nice and be colorful. Painting will take more time and upkeep with sanding and repainting. Paint will also cover the wood grain.
If you like the natural tones of WRC, a clear wood sealer could be used. For a rich wood tone, a light stain will look very nice. Be sure to look for products with UV protection.