Though personalized art appeared during World War I, and occasionally grew to incorporate the entire aircraft, most pilots carried a saying or a slogan, or a family crest, or squadron symbol. Some were named, but nose art was not common. During World War II, nose art not only saw its true beginnings, but its heyday.
No one knows exactly who started nose art first--it appeared with both the British and the Germans around the first time, with RAF pilots painting Hitler being kicked or skulls and crossbones on their aircraft, while German nose art was usually a personal symbol, named for a girlfriend or adopting a mascot (such as Adolf Galland using Mickey Mouse, something Walt Disney likely didn't approve of). It would be with the Americans, and a lesser extent the Canadians, that nose art truly became common--and started including its most famous forms, which was usually half-naked or completely naked women. This was not always true, but it often was.
The quality of nose art depended on the squadron or wing artist. Some of it was rather crude, while others were equal to the finest pinup artists in the United States, such as Alberto Vargas. For men thousands of miles away from home and lonely, a curvaceous blonde on a B-17 or a P-51 made that loneliness a bit easier. Others thought naked women were a little crude, and just limited themselves to names, or depicted animals, cartoon characters, or patriotic emblems, or caricatures of the Axis dictators they were fighting.
Generally speaking, there was little censorship, with squadron and group commanders rarely intervening on names or pictures; the pilots themselves practiced self-censorship, with profanity almost unknown, and full-frontal nudity nearly nonexistent. After the loss of a B-17 named "Murder Inc.," which the Germans captured and used to make propaganda, the 8th Air Force, at least, set up a nose art committee that reviewed the nose art of aircraft--but even it rarely wielded its veto. For the most part, nose art was limited only by the crew's imagination and the artist's ability. The British tended to stay away from the lurid nudes of the Americans, though the Canadians adopted them as well. (The Axis also did not use nose art in this fashion, and neither did the Soviets, who usually confined themselves to patriotic slogans on their aircraft, such as "For Stalin!" or "In the Spirit of the Motherland!")
When World War II ended, so did nose art, for the most part. In the peacetime, postwar armed forces, the idea of having naked women were wives and children could see it was not something the postwar USAF or Navy wanted, and when it wasn't scrapped, it was painted over. A few units (especially those away from home and family) still allowed it, but it would take Korea to begin a renaissance of nose art.
When I visited the Palm Springs Air Museum in 2021, I wasn't able to get a picture of the nose art on "Bunny," one of the museum's P-51 Mustangs--it was undergoing maintenance at the time, so the cowling was on the floor. When we revisited in June 2023, "Bunny" was back in one piece, so I definitely made sure to get this shot of the nose art.
"Bunny" is in the colors of the famous 332nd Fighter Group--the legendary "Tuskegee Airmen"--and thus has a very rare example of African-American nose art. Most of the 332nd didn't carry nose art on their P-51s (though most had names), but the group's favorite pin-up girl was actress Lena Horne. "Bunny" is very much flyable.