GUI>Game interaction

How could I draw a GUIElement that stayed centered around a gameobject on the screen and that scaled as that gameobject got closer to or farther from the camera? Basically I need a way to figure out where on the screen the top-left and bottom-right pixels on a gameobject are at any given time, and make my Rect go between those. Any thoughts?

Take a look at Renderer.bounds, which should return the bounding box in world space. Then you should be able to translate those coordinates with Camera.WorldToScreenPoint() and GUIUtility.ScreenToGUI().

Just of the top of my head, I never used Renderer.bounds.