A California "pink slip" was a title for a car that was paid for. One with a lien on it was printed on a white piece of paper, and the car couldn't be sold without the lienholder releasing interest in the car. Having a Pink Slip meant the car was paid for.
The "Deuce Coupe" all the hotrodders wanted was the 3-window with the suicide doors. There was also a 5-window model like the one in the picture above.
