Yep those are race cut OEM 88 fenders & an OEM 86 or 87 hood. Someone took their time to do it right & sanded the cut edges to make them look cleaner. Hold onto that plastic if there not to far gone & all cracked up. Also if you want to put that much time into them they can be polished, especially the red. I've done 3 tanks (2 red, 1 blue), 2 smooth hoods (1 red, 1 blue)I & 1 set of 86 white mostly full front fenders & I can say it's very labor intensive but worth the effort.
"Race" or "Dune" cut fenders are pretty common.Mine are similar to yours but I cut the points off that are still on yours. Basically run a straight line along the leading edge where the fenders leave the hood & go out & that's where I cut mine & than I left most of that kick up section like yours have. People cut them in many different ways both front & rear.