Assuming each odd line is input I would like the even lines to be the output of the following lines.

In the above the Graphics are inside Hold/HoldForm therefore IMO it doesn't make sense to have Mathematica try and render such expressions. For example Hold[Graphics[{Red, Circle[]}]] throws an error because built in colors don't get replaced.
How might I prevent Graphics from being rendered and instead print the Graphics code?
The following code works at reassigning Graphics inside Hold/HoldForm, but it prints something like Graphics[{Circle[{0, 0}]}] without the HoldForm/Hold.
Unprotect[Graphics]
Graphics /: HoldForm[Graphics[x___]] := (
InputForm[Graphics[x]]
);
Graphics /: Hold[Graphics[x___]] := (
InputForm[Graphics[x]]
);
Ideally the code should be generalized to work with irregular constructs like HoldForm["a",Graphics[{Circle[{0, 0}]}]]. More importantly, how might you insure HoldComplete doesn't render Graphics either. As rm-rf pointed out the Villegas–Gayley trick will likely be needed.
Simplifying John Fultz's answer slightly, you get the following:
Map[
(
Unprotect[#];
# /: MakeBoxes[#[expr_], fmt : StandardForm | TraditionalForm] :=
Block[{Graphics, Graphics3D},
RowBox[{ToString[#], "[", MakeBoxes[expr, fmt], "]"}]
];
Protect[#]
) &, {Hold, HoldForm, HoldComplete}
]


ToString[#, InputForm] &@Graphics[{Red, Circle[]}]– Kuba Sep 14 '13 at 00:32graphicsinstead ofGraphicsand replace when it's time to render. – ssch Sep 14 '13 at 00:39Graphics. As I see it, solving your problem requires changing the way the fonte end's output printer works. I don't have a clue on to do that. – m_goldberg Sep 14 '13 at 01:50MakeBoxes. Other ideas are certainly welcome. – William Sep 14 '13 at 01:57