Found a few pics I had saved on my computer from years ago. It looks sweet on a built machine, on a mostly stock quad it might not look so good, might look more like the fenders just fell off. Get ready to get your ass dirty too, everything that comes off them tires is coming right at ya. They're more cut off than they are shaved, there's not really much left of them.
With the rears you can be more consistent though, and get hit not only in the face but on the back of the head as well! And most likely with bigger chunks, and at higher speeds. Sounds like a good time for everybody.
I wouldn't do it unless maybe if all I ran was track and that would still be debatable.