It’s vinyl. We had a short thread about it a month ago in the coupe forum. The guy who did it (Lockwood Racing, a bit north of Atlanta) first designed it on the computer, using a Z3 template. Then the computer cut two foot long sections, straight and curved. He picked out the blanks, then attached another sheet of adhesive on top of the vinyl. Peeled of the main adhesive on the vinyl, showing the vinyl’s adhesive surface. Sprayed that with a special solution so it wouldn’t stick immediatley to the car. Applied sheet to car, and he could still move it around. When it was in position, he squeegied the liquid out.
The shop could have done essentially any design, but I liked the checkerboard that they had in their ad. Starts under the driver side headlight, on the air dam, swoops over the hood, down the side, and drapes all the way over the trunk to the drivers rear wheel well.
I am not terribly worried about fading, as my car spends 98% of its life in the garage. It is my daily driver, but I don’t commute. I will probably remove the graphics in a year or so. I used an intermediate quality of vinyl, so it is thicker and has a lower quality adhesive – easier to remove.
The pic I sent was taken at the Churchill Downs autocross in Louisville.