They formed an organization called Favela Painting to bring "outrageous works of art to unexpected places." Their goal is to paint an entire hillside favela in the center of Rio, visible to all inhabitants and visitors.
Currently they are transforming the favela of Santa Marta in the heart of Rio, with the help of local youths.
More about their work here. You can follow Favela Painting on Facebook here.
Link - via nagonthelake
From the Upcoming ueue, submitted by Marilyn Terrell.
http://www.youtube.com/watch?v=uPpMWaSPt-s