Open the hood and peek under the lip and you will see six holes with nuts sunk into them. Remove nuts and your lip will magically disappear from the hood.

 

In it's place will be six holes though, right?

 

That would be correct.

 

are you painting or replacing? because it's recessed into the hood and will leave a patch o ugly on your hood otherwise.

 

I ended up painting mine gloss black to match the hood. Turned out okay but I will have to replace it with the carbon fiber one sooner or later.