It's not rotting anymore, but I guess this qualifies.  It's a 1967 Shelby GT500 that's been butchered. 
Remember the movie "Corvette Summer"?  Here's a Shelby done the same way - about an inch
thick coat of disco-flake black paint, 6" diameter foam steering wheel, and the best interior -
red velvet glued over every inch of hard panels, only to be later spray painted black (upholstery too).
  Somebody took a hole saw to the dash to mount crappy gauges.  It's a dual quad 4 speed car and
I'm trying to finalize the deal now, but MAN have I got my work cut out for me.
Here's our story of a 1968 California Special. The photos are of the car after we got it home.
We had spotted a 1970 Cougar sitting in a field about 18 months ago. We stopped to inquire about it and the old 
gentleman told us that he also had a California Special. The Mustang was in much worse condition than the Cougar. 
He wanted $1000 for each.3 weeks ago, my son and I finally had the money to buy one of them.  We went back 
and they were both still there!  I took the VIN# from the GT/CS and found out that it was a real S-code GT/CS!
Here is a 67 Mustang fastback we found in southern Mo. It's a 390 4spd car, but missing most parts.
The other is a fastback/truck that looks like a project gone wrong.
Either could be had for $2000. - Alan
The story went that the car had been stolen from the original owner and the thieves were
apprehended by the Sheriffs while stripping it.  The engine and tranny had been RIPPED out.
The grill is gone and the radiator support is trashed.  But this rest is just about perfect! 
The interior looked new after we cleaned it. When we finally got into the trunk, we found the
drive shaft, front wiring harness, alternator, etc.  Each piece had an evidence tag tied to it dated Jan 24, 1979.
This Mustang had been sitting for 22 years.   Some things are just meant to be.
The build date on our Special is also my daughter's birthday! - James