Actually, the blue flame is from the perfect combination of air/fuel.. It doesen't matter what you're burning. But it would be hard to regulate it in your tailpipe. They probably used alcohol in the movie.
If you were to look inside the combustion chamber as your engine is running, you would see a blue flame. Except at idle.
It is different than the dragsters that shoot flame from their headers though.
Ethanol would be better to run, because it isn't toxic and has a slightly higher energy content than methanol.
Most alcohol go-kart engines use methanol though. Not sure why.