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This is nifty. It apparently made an appearence in the movie Wayne's World.
This is a 1989 piece named "Spindle" by artist Dustin Shuler. Folks in Chicago seem to have taken to calling it the Car Kabob.
Other info:
http://users.rcn.com/jdeubel/plaza/spindle.html
http://campusapps.fullerton.edu/news/arts/2004/75_dustin_shulers.html
http://www.correiagallery.com/artists/shuler/shuler_press.html
And you can even buy Car-Kabob paraphenalia:
http://www.cafepress.com/enjoyillinois/953663
A 3D rendering of the Kabob in KMZ format for viewing with GE.
http://www.newsvine.com/_news/2007/07/10/828894-days-numbered-for-illinois-car-kabob
http://www.suntimes.com/news/metro/930180,CST-NWS-spindle03.article