Using different colors while editing and revising is a good way for students to see what they have and have not worked on. It also allows teachers to more easily see what their students have done.
I buy "skinny" crayola markers and put a set into a pencil pouch along with a half-page laminated copy of this document. Kids can grab a pouch when they are ready to revise and edit by themselves or with a partner. I have also included a full page version if you prefer for each student to have their own copy and/or to make into a large poster.
There are many versions of this idea out there, but this one is geared more towards the intermediate grades. It also includes BOTH editing and revising, which I found hard to find.
Fonts are by Lettering Delights.