Wiktionary
alt. (qualifier: US) A pencil with a wax-like colored core. n. (qualifier: US) A pencil with a wax-like colored core.
Wikipedia
A colored pencil, coloured pencil (see spelling differences) or pencil crayon is an art medium constructed of a narrow, pigmented core encased in a wooden cylindrical case. Unlike graphite and charcoal pencils, colored pencils’ cores are wax- or oil-based and contain varying proportions of pigments, additives, and binding agents. Water-soluble (watercolor) pencils and pastel pencils are also manufactured as well as colored leads for mechanical pencils.
Colored pencils vary greatly in terms of quality and usability; concentration of pigments in the core, lightfastness of the pigments, durability of the colored pencil, and softness of the lead are some indicators of a brand’s quality and, consequently, its market price. There is no general quality difference between wax/oil-based and water-soluble colored pencils, although some manufacturers rate their water-soluble pencils as less lightfast than their similar wax/oil-based pencils. Rising popularity of colored pencils as an art medium sparked the beginning of the Colored Pencil Society of America (CPSA). According to its website, “[CPSA] was founded in 1990 as a nonprofit organization dedicated to artists over 18 years of age working with colored pencil”. The CPSA not only promotes colored pencil art as fine art, but also strives to set lightfastness standards for colored pencil manufacturers. Other countries such as United Kingdom, United States, Canada, Australia and Mexico – among many others – have formed their own organizations and societies for colored pencil artists. In Canada, colored pencils are known as pencil crayons. Colored pencils are commonly stored in pencil cases to prevent damage.
Usage examples of "colored pencil".
Underneath the semblance of cloth and jewels, it was only tissue paper covered with colored pencil marks showing darts and stitching lines.
Then Zach rolled over and looked at him with those almond-shaped dark green eyes, those eyes that were the exact shade of a colored pencil Trevor had once worn down to a nub.
The moment the ant found the sugar, I picked up a colored pencil that I had ready (I had previously done experiments indicating that the ants don't give a damn about pencil marks -- they walk right over them -- so I knew I wasn't disturbing anything), and behind where the ant went I drew a line so I could tell where his trail was.
Doc was studying the Arctic regions, and drawing a line with a colored pencil.
A tall, chestnut-haired woman sat bent over a sketch pad, making quick motions with a colored pencil.
Selecting a colored pencil, she opened her sketchbook and began to draw.