Straight out of the '90s with its iconic colour-shifting car paints, this material replicates the effect by using the camera vector to track the player's position.
Two images plugged into a lerp with the alpha controlling the camera vector. This is normalized and plugged into a Dot product (multiplies two vectors together and sums up the results of those multiplications) with a constant vector 3 and a max clamp.
Set up the material instance with two different images:
Screenshot example with camera position halfway:
Video example: