Crayola, founded in 1885, revolutionized art supplies with its iconic crayons. Initially named Binney & Smith, the brand introduced its first box of eight crayons in 1903. Crayola offers over 120 colors today, including the popular "Crayola 64". The name "Crayola" is derived from the French words "craie" (chalk) and "ola" (oily).