I found the youtube demo that I mentioned before. I liked this one a lot, as it seemed to be the kind of set up we probably have.
Monoprinting with water color: http://www.youtube.com/watch?v=W-c8zLx_9uI
I'm not sure about the paper used...I wish she would have mentioned it. I took a class years ago in mono and we used Rives BFK. Paper that can be soaked? I'll try one this weekend with paper I have around here and let you know what happens.