We show that racial perceptions are fluid; how individuals perceive their own race and how they are perceived by others depends in part on their social position. Using longitudinal data from a representative sample of Americans, we find that individuals who are unemployed, incarcerated, or impoverished are more likely to be seen and identify as black and less likely to be seen and identify as white, regardless of how they were classified or identified previously. This is consistent with the view that race is not a fixed individual attribute, but rather a changeable marker of status.