It's a Ferrari badge with 'Porsche' on it.
I've seen Boxsters with small Porsche crests on the fender and they don't look too bad at all - I even went to buy some at one point as I thought they were great.
Take this video for example, he has one:
https://www.youtube.com/watch?v=XR7FjbCDWlU
Each to their own, but anyone who knows anything about cars would think you're being a bit daft there.