A few months back I was asked if Ford ever offered a two tone paint job during 1967.  I responded that unless the person was referring to option that included the louvered taillight panel I was aware of none.

As it would happen I received a phone call from another person approximately a month later. This caller said that his father had been the original owner of a 1967 Mustang fastback and that he had recently inherited the car. While preparing the car for a repaint the son had discovered that the taillight panel had been painted a different color from the car. This was the reason for his call.  At first I reasoned that this had likely been a modification by his father or by the dealer for his father (naturally we always attempt to find a way for the facts to fit what the current understanding is at the time). I again confirmed that the car did not and does not have the louvered taillight panel.

As we continued to discuss the subject the son informed me that they had the original window sticker with a charge for the two tone paint job (see window sticker). As a description the owner reported that the taillight panel had been painted over the exterior color, had the tapered edges at it lead to the trunk opening  (like other know cars with the louvered taillight panel). He also described that the end caps and trunk rear edge had been painted from the taillight panel area to just under the chrome trim (unlike the pattern seen on louvered taillight panel cars).

I continued to inquire about what he was seeing and knew about the car. In the conversation he informed me that he would send copies of the ownership papers, window sticker, door tag and owners card.

What we can determine from the evidence is that during 1967, Ford did offer a two tone exterior combination.  Ford identified these cars with a two digit exterior code with the

addition of a "5", exactly as they would later do in 1969 for the Mach I low gloss hood treatment.  Further investigation reprints of the salesman books from the time period also shows a charge for this option.  Ditzler paint charts from 1967 also lists:

* Insert color on Mustang only in two tone

combination the first letter  indicates lower."
In examining the Mustang Production Guide we find a number of examples of the same two digit paint codes. I've included a breakdown below. Though the sampling is low in numbers a total of thirteen 1967's could be found listed there.
   
The use of 2 digit exterior codes continued into 1968 We find examples, 35 in total, of 1968 Mustangs  receive a "5" to identify those which received the hood stripes from the factory. Though these numbers were taken from such a small sampling of all Mustangs it is the best we have at this time.

But why are examples of these cars not more plentiful? It appears likely that through repaints and numerous owners (and the fact that Ford does lists few references) knowledge of this little option has been lost.