That aircraft is a HS-1112 built by Spain.
Spain was liscense building the Bf-109 but never recieved the DB-601 engines so they put 12-cylinder "V" configured, 1,300 hp Hispano-Suiza 12Z-17 engine and a three bladed propeller. That is why the nose looks different. It is basically a Bf-109 with a different engine, built by a different country and different name.
The reason it is painted that way is because many of them are used in making movies most noticably Memphis Belle. Due to the lack of flying Bf-109s they use the Hs-1112.