It's the famous pink C6 Corvette, owned by pretentious Billboard Model/Actress Angelyne, who is obsessed with the color pink, and compares herself to a barbie doll. She's mostly known for this car now, which has a license plate of ANGELNN. If you live in the Los Angeles area, I doubt that you've never seen this car. It's sort of a landmark, and represents the crazy spirit of Hollywood.
The picture you see above was taken by me not long ago, and was probably the 40th time I have seen that eyesore.