Watercolour pencil options: 48 colours | 72 colours | 120 colours | 150 colours. Art set: Create your best work yet with a set of watercolour pencils or oil based pencils. Oil based pencils: Created with an oily binder, oil based pencils have a different feel on paper and can create an oil painting look. Watercolour pencils: They look like a normal pencil at first, but you can add water to the page to create a soft watercolour effect. Oil pencil options: 48 colours | 72 colours | 120 colours | 160 colours. Get creative: Teenagers and adults can have hours of fun experimenting with colour and creating their works of art. Watercolour Pencils & Oil Based Pencils | Living Social