Abstract: A decorative wheel cover apparatus is disclosed for relatively inexpensively simulating the appearance of a more expensive custom wheel. A wheel cover member, having a contoured body and circular inner and outer rims which accurately simulates the appearance of a custom wheel is removably secured to an ordinary automotive wheel by a unique retention system. The retention system includes a first portion disposed along the back of the wheel cover member, and a second portion preferably adhesively bonded to the wheel directly behind the first portion, with the first and second portions being suited for releasable engagement with one another. Preferably, the first and second portions of the retention system constitute mating rings, the first ring being secured to the outer rim of the wheel cover member and having a plurality of lugs extending therefrom, and the second ring having a plurality of receptacles or slots for receiving and releasably retaining the lugs. A method of installation is included.