This is called the Balrog and it's a body kit from French car stylist Jeremie Paret, former editor at luxury tuning mag Modify. Frankly, it looks like a Cayenne fought a Nissan GT-R and lost.

What you get for your hard-earned Euro is a widebody kit over bigger wheels and an all new nose which apparently took eight months to develop. Somehow. It's complete with halo headlights and though the Balrog technically has no performance upgrades, it's supposedly a bit quicker due to improved intercooling and brake cooling. Whatever. We think the only thing it needs is more fiery whip, or perhaps just more fire. We need more spaces in the Ten Ugliest Custom Porsche Cayennes list.
[WCF]

Balrog: A Custom Porsche Cayenne That Shall Not PassS

Balrog: A Custom Porsche Cayenne That Shall Not PassS

Balrog: A Custom Porsche Cayenne That Shall Not PassS

Balrog: A Custom Porsche Cayenne That Shall Not PassS

Balrog: A Custom Porsche Cayenne That Shall Not PassS

Balrog: A Custom Porsche Cayenne That Shall Not PassS