Actually, no. It's the custom made Red Special guitar made by John Birch (who later made an ugly commercial copy of the same guitar).
That guitar was never painted, so it's a natural wood colour.
Sadly enough, it is literally in pieces, as Brian smashed it out of frustration with the poor tones the guitar gave. It went missing for 20 years afterwards, but was recently given back to Brian (or at least, had it's other owner located by a fan who went lengths to find it), who otherwise had last said on GVH1 that it was still missing (which was a year or so before the discovery was made).
Funnily enough, I heard once that Brian used it at Milton Keynes. Is that true? (I think I read it on Sebastian's website - will go check in a minute)
But thanks for posting that bit about Brian holding the guitar! I will check it out RIGHT away!
Oh, and speaking of Inu Yasha, the first movie has been released in North America, subbed and dubbed, on DVD! Hooray!
I'm adding it to my Xmas wishlist for my family :)
EDIT: Just looked at the picture! Very interesting! (Although, MY Yellow Special would be pure yellow wood paint, without any other colours mixed in - somewhat like the Burns Cherry Red Red Special Guitar)