Back to Black: Peeling Plasti Dip Off a Second-Gen IS
Generally, folks use black or white, but there's a host of other colors available over on the Plasti Dip site--you can even get pearly colors and glow-in-the-dark finishes. While it's always hard to tell how well the execution is from photos or videos, with the right equipment and some patience, I bet you could get it to look pretty sharp.
Since it's totally reversible, if you totally hate the color you choose, you're only a couple of hours of peeling away from reversing it. If I lived in a place with harsh winters where I had to worry about snow and ice, or was just super paranoid about rock chips, I think this could be fun to do.