The Trust's webpage shows this photo of the sign being draped with new wording. This isn't the first time such a change has happened. some University of Southern California students draped it to make it read Hollyweed some decades ago.
The sign was originally an advertisement for land in Hollywood. In the beginning it said,
Above is a pix of the Hollywood Land Realty in Beachwood Canyon Village.
All photos on the Rounder's pages can be enlarged by clicking them.