Although you can see many tools in this picture, for making colors I use the frypan with the small tins to melt wax, add pigments to it and then pour the mixture out onto the hot table. I use the putty knife to work the pigments and wax together and when the wax cools enough to be able to handle I roll it out into crayons. You could begin with making a basic palette of red, yellow, blue, and white.
Pure beeswax is melted and pigments are added to make colors. Melt slowly and do not heat over 200º Fahrenheit. This is important because wax discolors at temperatures over 200º and if you go up to 400º toxic fumes are given off and a little higher than that exceeds the flash point for fire in the studio. DO NOT GO OVER 200º Fahrenheit!
Earth based oxides go into solution very easily. On a molecular level the earth oxide pigments look like pockmarked asteroids and wax will permeate those fissures making a wonderful paste. On the other hand on a molecular level cobalt, graphite, cadmium, and chrome oxide are like hard diamonds and justfloat in the wax. There is no marriage. These pigments are very hard to use. Green is the hardest. One of the reasons I experimented with oil was to get these difficult pigments to go into solution with the wax. But I have had to give up the oil and am still suffering with these pigments. My next experiment with them will be to add kaolin clay. The clay will have the pockmark asteroid molecule and combined with the pigments may work. I might also try terra alba which is raw gypsum (hydrated gypsum is plaster of paris and that would never work).