It's mostly a 1962 VW
Bus. Except for the engine, which is now a 355 small-block. And the aluminum seats. And the 7-inch chop. Oh, and the trademark VW flower vase on the dash was carved from billet aluminum. All that and more makes it one of Hot Rod Magazine's Top 10 Hot Rods of 2006.
The photo is linked to a full detailing of the sinister beast.
The other nine top-rated Hot Rods can be viewed by following the 'read' link below, including HRM's Hot Rod of the Year. If you like ungodly amounts of horsepower, you'll probably agree with their choices. If you don't, you might prefer this link
[Source: Hot Rod Magazine via Jalopnik]