Someone mentioned it in a thread earlier, also with the hood up and the parts remove from the bottom of the hood theres the pony logo, im thinking thats what causes the logo during condensation. Theres several more "hidden" pony logos for us to find, sort of like a scavenger hunt. I'm sure someone else can point out the thread for us.
I was lucky enough to sit in on the training session at my dealer when Ford brought in a pre-production Mustang to show the salespeople.
He lifted the hood slightly and pointed out that you could see a 'ghost' image
of the Horse in the paint on top of the hood. The car was in the showroom
with no condensation on it!
It appears that the Horse can be seen 'through' some paint colors (this one was blue), even without any condensation.
The sales people were laughing about it...with the hood completely down you couldn't see it. But with the hood up a couple of inches the image was visible.
The Ford Rep said that out in the sun you should be able to see the image from
certain angles.
I think it's really cool. I can understand some thinking it's tacky but to me it shows the attention to detail Ford put into this car. If they did this, imagine how much tuning they put into the suspension and aerodynamics.