There is a crib next to the wall. There is a picture on the wall. In this case, do we use #1?

In this case, #1 is not the same as #2. Is that right? #4 is not suitable, either.

1. The picture is above the crib.
2. The picture is over the crib.

3. The crib is below the picture.
4. The crib is under the picture.

Both 1 and 2 are correct for the scene you describe.

I would use 3 rather than 4, but actually both are correct.