Not to answer for the Rage boys, but there are different kinds of colored pencils. Prismacolor are the waxy ones you refer to probably. There are others that are a little more like regular pencils (often red or non-photo blue for layout artists in the olden days). There are also kinds that are water color pencils that when used, the pigment becomes like watercolor and bleeds out. And of course there are crayons and conte crayons of limited colors and pastels both chalk and oil.
So there's a range. What would you be looking to do?
"Not a bit is wasted and the best is yet to come. . ." -- remembered from a dream