That's actually very easy, you can do the same with nail polish. You just need a huge bowl filled with water, just pour the paint in it (maybe a special kind, I don't know) and then do what the guy is doing. Simple as fuck. :P (just dont forget to remove the excess paint with a stick or something before pulling out the object)

works like enamel, i guess.

Ibanez guitar. Steve Vai Signature model:

http://www.ibanezrules.com/new/uv77re.htm

stick yer face in it

awesome!!!!!

oil based paint poured into water, its called swirl painting.

this method calls as EBRU, u can searh on google