I picked up a cheap 2.25" shiny exhaust tip like this one (Amazon.com: Stainless Steel Rolled Angle Cut Exhaust Tip 2.25" ID, 3.00" OD, 18.00" length: Automotive ) my local exhaust shop, Exhaust Pros, welded it on for twenty bucks! Love that place!

Please update us with photos of the before welding on the new tip and after please!
I'm in the same boat with that tow receiver, interested on how the finished look is.