Definitely a clone. Not really hard to clone one either especially if you have a wrecked Mach as a donor. Just swap everything over, do the body striping at a good paint shop and call it a day.
If you really want to see something badass find one of the 1995 Cobra hard top convertibles. Only 499 were ever made.
Or you could cheat and just buy a hardtop from Smoothline...
2000 Mustang GT Steeda build #48. Bolt ons, suspension, Novi 2000.
Just because I give you advice, doesn't mean I know more than you. Its just means I've done more stupid ****.