There's also a kind of colored pencils that's called water_coloured pencils. The way of application is just the same as colored pencils. However, with this media you can achieve a watercolor effect by dipping a brush in water and brushing along the colored areas with it. It's actually a fun media to try especially if you want to use a watercolor but find the mixing with water hard. It's easy to use as well.
Here are some tips on using crayons for effects in coloring: You can start with a light layer of the color you want to use first. Then you can cover that with darker or lighter color to add life to your drawing, just like the wings on this butterfly.