It seems that many people have chosen to use Foliotec's paint kit setup which costs a great deal of money. There is an option with nearly the same result that costs a fraction of the price, use a spray can. I have done this to mine and am quite pleased to say that I have a fool-proof method.

Items Needed
- Masking tape (thicker the better)
- 500 degree engine enamel (ensures paint will not burn off)
- Bottle of Brake Kleen
- Rag
- Socket wrench and socket to take off the wheels 
- Car jack or lift

Directions
Step 1 - Jack car up

Step 2 - Remove wheel

Step 3 - Mask off the rotor along the sides of the caliper as well as the lines behind the caliper (Generally anywhere you do not want overspray).

Step 4 - Spray the caliper evenly, making sure not to stop the spray half-way through the caliper.

Step 5 - Immediately remove the masking tape and turn the rotor showing any over spray on the rotor. If you are doing the rear calipers, make sure that the parking brake is not engaged or the rotor will not turn.

Step 6 - Remove the overspray using a rag and directly spraying the Brake Kleen on the rotors and rubbing the paint off (Repeat until clean).

Step 7 - Place wheel back on the car, making sure the wheel does not touch the freshly painted caliper.

Step 8 - Repeat steps 1 - 7 on remaining calipers.

Thats it!!! The easy and cost efficient way to paint your calipers.