This is a trick I use on old derailleur equipped Chicago Schwinns with the candy color paint that is impossible to touch up.

Some stores that sell fishing tackle offer flashy adhesive tape in 1/2" widths for dressing up spinners and other lures. This stuff is available in many colors and patterns. It can be trimmed to make a nice chainstay protector or cover up chips in the paint from years of chain slap.


There are some pictures on this site:
http://www.jannsnetcraft.com/reflect...es/309100.aspx