Start by removing the liner from the hood.  There are 15 round plastic retainers that pull straight out.  You need to clean liner prior to painting.  You can use a nylon bristle brush and air to clean. Note: Brushing the hoodliner may pull the fibers, changing the sharp appearance of the hoodliner. Use caution.
 

  You may use Rust-oleum Flat Black over the emblem area. Apply two coats. You can then use Tester's model paint in a tube which can be purchased from a hobby shop ($3.00 per tube).  You can use silver, red and white.
 

  Start by outlining the outside area with silver. It's easy because of the raise edges.
 

  Here is the outlining complete and ready for some color   It takes about 1/2 hour, with 2 coats. Next, paint white in the flag area, then move on to the red. The red may soak into the raised fiber.  It may take 4-5 coats to look better.
 

  Then, fill in the rest of the colors on the hoodliner. Here is a picture of a completed product. Please refer to the C5 emblem during painting as the picture shown has the checkerboard colors reversed.
 

  Let it dry and reinstall on car with original plastic retainers.  This took about 2-3 hours and cost $15-$20.  There are several color combinations.  So, paint it the way you want to.

Enjoy this do-it-yourself mod.  --Black_Magic on the forum

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when performing work on your Corvette to prevent yourself from causing any
damage. --Pat