You're kidding, aren't you. You're going to ride a construction zone bike every day?
You bought nice SKS fenders and now going to tack them up? This is to inccrease the bikes thief deterent factor, right?

Ok, got that out of my system. What color are your fenders: black or silver?

Why thinking of doing this? Only 4% of accidents are from behind, most are from sides. Do sides first and then do rear. You want help on the highest risk areas.

Remember you are talking passive lighting and this should not be considered unless you have great active lighting. To get the most bang for the buck you might consider red clearance lights on your rear supports. This would give you your rear light high and 2 lights on the sides for more visibility.

Got to go totally passive? Ok. First do the tire rims. Nothing says bicycle like two circles of light. You hope the hummer will not be centered on your tail, so the side lighting, even if only 3 degrees should be enough to reflect off the rims. You can get either silver or stealth black reflective rim tape.

Another passive idea, is to get one of those farm tractor slow moving vehicle signs and mount it on the back of your saddle. For variety, those signs are big enough, you could put a reflective skull & crossbones on it.

For the fenders themselves:
if black fenders, use stealth black reflective tape.
if silver, consider the 3M diamond tape.

If only using the red, yellow, white tape. Then the best I can think of is to alternate the red and white at 45 degree angle. After you have covered with red and white, then put a 3/16 inch yellow border around the fender.

Again this would not be dressing up the bike or the fender and would never be something I would consider as I want safety as well as messaging to non-cyclists: "you can be a safe cyclist without being a construction site on wheels".

Good luck. Take time. Easiest way to apply the tape is to put 2 to 4 drops of liquid detergent in a cup of water and after you peal off the backing wet the sticky side with this mild solution. You can slide around the tape to get the position you desire. Just press out the water and it sticks perfectly as expected.