YES! Thanks Loarie! I had IDed this little guy at one time, remembered that there was a cool story behind the spectacular color and pattern, and was racking my brain trying to remember. I've been searching online, and had actually skimmed the second link you provided without catching it! From that site:

"In the Kalahari desert of southern Africa, juvenile lacertid lizards of the species Heliobolus lugubris employ an interesting anti-predator tactic involving deception known as Batesian mimicry (Huey and Pianka 1977b). These defenseless small lizards mimic noxious "Oogpister" beetles (the Afrikaans translates euphemistically as "eye squirter"), which emit pungent acids, aldehydes, and other chemicals when disturbed.

Whereas adults walk with a normal tetrapod lizard gait, with their backs undulating from side to side, juveniles walk stiff-legged, with backs arched vertically holding their reddish tails flat against the ground (this makes the tail difficult to detect). When pursued, young H. lugubris abandon their "beetle walk" and dart rapidly for cover, using normal lizard locomotion. As they reach a size of about 45-50 mm from snout to vent (the size of the largest oogpister beetles), these lizards "metamorphose" into the cryptic adult coloration and permanently abandon the stilt walk. The frequency of broken and regenerated tails is lower in juvenile H. lugubris than among closely related lacertids in the same habitats exposed to common predators, suggesting that this beetle mimicry does reduce predatory attacks."