In his over 40 years in drag racing, Jim Dunn has driven and won in many kinds of cars. Dunn's first NHRA win came at the 1963 Winternationals in a small-block Chevy-powered Fiat. Dunn moved to Top Fuel dragsters with an experimental Woody Gilmore digger, but before long traded it for a more conventional chassis. Of all his dragsters, one of the most memorable was the "Rainbow Car" because of its multi-colored paint scheme. This was the last dragster that Dunn campaigned independently without a major sponsor backing his operation. Dunn drove this car to victory at Bakersfield in 1969 and claimed the Division 7 title that same year. About the same time, Funny Cars were becoming the popular class and with many more races available, Dunn left behind the "Rainbow Car" and has been involved with "floppers" ever since. In 1971, Dunn won the Funny Car title in Bakersfield in one of his first races with the car. The 1972 movie Funny Car Summer followed the fireman from Los Angeles and his family as they toured the country drag racing. Dunn drove Funny Cars until 1990, scoring runner-ups at the 1977 and 1979 Fall Nationals in Seattle, the U.S. Nationals in 1981, a win in Bakersfield in 1980, and a victory at the 1981 World Finals, his final as a driver. Dunn is still active today as owner and tuner of the Mooneyes Nitro Funny Car. Dunn won the prestigious Bakersfield March Meet three times. In addition to his Top Fuel win in 1969, he captured Funny Car victories in 1971 and 1980.

The production run was limited to 3500 models.