I think it's part of a Cosplay. Someone on my FB was making it. Not sure exactly what it is. Would be awesome if they made a full Optimus Cosplay though.
It's time consuming and tedious but not impossible. I made a slightly more rudimentary one years ago.
Definitely! On that note, I think if you want the type of skills that go into making this kind of thing, Replica Prop Forums (RPF Costume and Prop Maker Community ) is the place to go. They have all sorts of threads on making props, costumes, and much more!