Rinspeed, the Swiss Porsche Tuning Car Company is showing a the Geneva Car Show 2004 a Sports Car that can Fly, Swim and of course Drive.

The Rinspeed Splash has a folding wing system powered by hydraulics that enables the car to take off in the air.
The Splash is powered by a 750 ccm natural Gas motor, which puts out 140 PS. The Splash can reach about 200 km/h on the stree, 50 km/h in the water and 80 km/h above water. (more details here in german, more Photos are here).
The Splash is not a plane but basically gets out of the water like some of those high-speed boats.
We reported about the Gibbs Aquada Amphibian Car last year. Take also a look at the Rinspeed Beduin.

UPDATE: REAL PHOTOS OF RINSPEED SPLASH