Depends on the steel you are using: From the unofficial Strider FAQ:
"How are Stripes made?
BG42 and ATS-34 are dark colored after heat treat, the blades are then bead blasted to create the stripes (this gives the stripes a red tinge).
S30V is light after heat treat so it is black oxide finished and then bead blasted to create the stripes."
You could probably achieve a similar effect by selectively coating parts of a blade with a polymer like duracoat, having a blade DLCd, then bead blasted, etc. The stripes look great, but with use on any knife, will eventually wear.