Please excuse how dirty the car is, I had never noticed this before perhaps because the car already sits low and is on the lower portion of the car, but there definitely a upward curve to the left exhaust. I'm not sure how it got there as I don't recall backing into anything and upon close examination does not seem significantly deformed/missing paint/scratched etc. Is this just something that pops back out?

 

Either you backed up into something our someone hit you with their car.

 

I just checked mine and it is definitely not shaped like that.

 

Just FYI, the part you are referring to is the not a valance, it's the rear diffuser.

 

No. It's a valance panel.

 

Still looking for feedback on if this is an easy fix, is this part easily removed and bent back to normal shape?

 

Take it to a body shop. It looks like your left exhaust is bent out of shape too.

 

Someone must have hit your left exhaust along with the panel.

 

did you park somewhere you were not supposed to recently? think really hard. it looks like someone put a tow truck chain to your tow hook and when they tried to pull your car, due to the degree/angle it messed up your panel.