It’s a “T”.
I can top this! I had a marketing textbook in college which actually used this as a little one page case study! Truth be told, I didn’t know it was an untrue urban legend until I discovered the SDMB and Snopes.
Having grown up in a place where people tell and believe bullshit stories about other people, esp those of other races, I was instantly skeptical.
First off, I knew plenty of Mexicans who drove Novas. Then I knew that they weren’t stupid enough to take one word that means one thing and split it into two words that kind of mean something silly, and not buy a car for the literal meaning of those two words, which make an awkward statement anyway.
When I confronted Mi profesor about it in class, he blew me off. Later, when I noticed that he frequently made subtle cracks about the way Mexicans spoke Spanish, I understood. A :wally is a :wally.
No, it was just a little comment on the forum I linked to. “Rice” is a derogatory term for the spoilers, VTEC stickers, tints etc etc that certain folk like to plaster over their (usually Japanese - geddit?) cars.
Hence “ricer” “rice boy”, “rice rocket”, and so on. This page will give you a primer 