The song is "Octopus Daughter" by Serani Poji.
Originally from http://www.nicovideo.jp/watch/sm366662
This 360 game was just released on May 24th.
But they already output some fabulous "Paintings".
I know there are so much of anime or local corp related cars(except KFC heh) in this movie, but there are cool racer replicas as well.
More to come? I dunno.

FYI, You can't put hand drawn textures or upload images in this game, all you can do is replacing/resizing/rotating limited shaped decals incl alphabet, and make them layered.

Have fun. (less info)