Extract the folder to your program files\Steam folder, overwriting if necessary.
This spray was made in photoshop, saved as a tga, then imported into VTFedit. It was then saved with the "no level of detail" flag checked so it will stay high quality and clear no matter what your video settings are. If you import it straight through the game's multiplayer menu, it will look like poop when the games video settings are on med/low. This is the reason I've uploaded it as a vtf/vmt file and not a tga or other format.
Pros: It's funny, i think it's hilarious personally, great concept and it blends just nicely.
Cons: It's not invisible!! it's an awesome concept.. i wish i came up with it actually.. and thats the only thing i can see holding it back.
Improvements: Make the white invisible.. or add some sort of banner/outlining to give it that extra kick it needs. i believe invisibility would sit so nicely with it. i mean its worth a try isnt it? :D
Notes: if you DO try the invisibility.. on the bottom i see it's not so situated with the white, personally i'd mess with that so it looks nice and blended instead of the random missing O's i see down there.
Edit/Update: Awesome man thanks :D looks AWESOME with the transparency great update so i revised my scoring. I knew it would look alot better with the transparency :D. We get to have our lazy days :D That's why i'm here to keep you up on your feet or down doing pushups :D