Art graduate Lauren Porter knitted herself a Ferrari for her honors degree at Bath Spa University. Ananova reports:
The classic red bodywork consists of 250 squares of garter stitch made by Lauren and 20 family members and friends. The windows are V-shaped stocking stitch, while the details are crochet and the badge is embroidered. It's all supported by a steel frame which Lauren, 22, of Greatham, Hants, welded herself.
I don't know what Bath Spa University is, but if they take a knitted Ferrari as a final project then they're okay in my book.
NOTE: If you want to be taken seriously as a university, nothing says "we're credible" like naming yourselves Bath Spa University.