I use this clip chart to monitor student behavior in my classroom. Students clip up or down throughout the day. All students begin on green. If they forgot their homework or are not dressed following our dress code they clip down. The four colors are silver, green, yellow, and red. If a student clips down twice to red they have to fill out a "red day" paper for an adult to sign at home. In my classroom I have a folder next to my clip chart with the red day forms. If a student has to clip all the way down to red they take a minute of "reflection time" and fill the form out immediately. At the end of the day I staple the red day form in the student's agenda for an adult to sign.
A word of advice when hanging: when I hang this on my wall I put two pushpins in BEHIND the paper directly into the wall. This way the chart is pushed slightly out from the wall and it becomes easier for students to move clips.:)