My first thought upon seeing this plate from a distance was, "underway, cute and appropriate."
As I got closer, I noticed I had mixed up the order of the letters initially. When I realized what it was intended to say, I had a good laugh. However, it would be much more appropriate on the front of a vehicle, though the letters would have to be mirrored for the plate to be effective.
I might have to have one of these made for my freeway drives to tell the drivers in the left lane who aren't passing that they are ИᗡWAY.