Interesting. I have seen this done with jackets, and last year it was very popular to *Guccierize* your Nike Air Force Ones.
To me, the person who does that with their car is doing the same as the person who carries around the bag. Both are tacky, but as always, if it floats your boat.......
There's several places on the web where you can buy the material, and I think that along Broadway in the high 20s, low 30s you can find it.
Defintely not a good look.