The New York Times says
that VW is upset about the fake ad showing a suicide bomber and a Polo. I'm sure everyone has seen a reference to this in their local papers. (In a Japanese newspaper, they had a hand-drawn story-board of the ad.)
For your reference, Wizbang has links to the video.
And just for old time's sake, here are the snopes.com pages for the Ford SportKa and the Nokia fake ads. (They have links to the videos.)
People used a lot of flash and video during the elections to express their views online. With more bandwidth and easier and easier video editing, video as a form of expression will continue to grow. It's interesting how the TV ad as a form is perfect for twisted humor because it is designed to be short and strong and people are used to the format.
Jeff Jarvis has blogged his thoughts on this.