I'm in the process of making a knife display using an old shed antler but didn't like the color of it. I just for fun i took some pictures as I went to share the process I use. I'm sure there are other ways and probably better but I'm pleased with the results.
Here is the antler I'm goin to stain.
http://img.photobucket.com/albums/v78/mikebaker/DSCF0599.jpg With a stiff brush I apply a coat of minwax early american oil based stain. I put it a little heavier on the parts I want darker.
http://img.photobucket.com/albums/v78/mikebaker/DSCF0601.jpg While the stain is still wet, I brush a small amount of india ink(water based) on the areas that I really want to darken. Don't worry about brush marks, you can blend them with a brush and stain. Leave some darker places and don't try to get the entire antler the same color. Just be sure to wipe off any runs or sags before they dry.
http://img.photobucket.com/albums/v78/mikebaker/DSCF0602.jpg If you get a big black glob like I did, simply go back over it with the stain while it is wet and blend it in.
http://img.photobucket.com/albums/v78/mikebaker/DSCF0604.jpg Before the stain is completley dry, I wipe it off with some rags. I wipe a little harder toward the tips of the antler and any other place I want to lighten up.
http://img.photobucket.com/albums/v78/mikebaker/DSCF0605.jpg After the stain is dry, I use steel wool to make more highlights. Of course the more you rub, the lighter it will become. I even used 60 grit sandpaper on some of this antler. Here is how it looks now.
http://img.photobucket.com/albums/v78/mikebaker/DSCF0605.jpg When I'm all finished, I'll post another picture.
This is the same techinique I used on the moose antler on the overlay of the bow I made for Frank. It was bleached white when Shell gave it to me.