The holes in the frame and "head" pieces may require some extra drilling to make sure they are matched up perfectly. Once this is done, the tool can be left as is or painted, as shown below. I used a primer layer of automotive paint and then finished with a textured black spray paint. I am very satisfied with the final product!
Before painting you may want to use an angle grinder to grind the edges of the handle. This will provide a smooth edge when gripping the multitool. You can also fashion your own grip from paracord or some other material.
After a good amount of use, the adhesive holding the handle together broke. Another solution was necessary to keep the handle together permanently. In order to do this I welded a small piece of 1/4" steel rod to the bottom of the handle, thereby connecting the two frame pieces.