Sounds like some kind of swimming body paint, not even close. Hydrodipping is a method of applying printed designs to three-dimensional surfaces and whilst it is known by many different names, the results are no less impressive on whatever it is applied to, especially radio controlled cars.
Based in Victoria, Melbourne Hydrographix Depot (you can find them on the web here http://melbournehydrographixdepot.com.au/ or on facebook here https://www.facebook.com/MelbbournehydroX ) can cater for all of your Hydrographics, commonly referred to as water transfer printing, needs. It was in the applcations of RC cars that it caught my eye.
Have a look at some of these samples and talk with them about your next custom painted radio, body or chassis.