Undercarriage paint
It does depend on what look you're going for.
I wasn't going for OEM correct but I wanted a look better than just painting everything black. I left many parts natural finish but coated them with RPM paste:
This helps the parts stay looking fresh.
Otherwise, I'll paint other stuff a semi-flat black.
You can use spray cans but you'll get a more durable finish using catalyzed enamel sprayed from a gun. I always use etching primer on bare metal first.