color pencils give u the advantage of a unique texture which cannot be recreated using paints.
people think color pencils is for children but that only when they cant think of doing anything complicated with color pencils . colors pencils and water paints make a good combination. they give you a sense of depth and also texture. water color pencils can also be considered as a good option but don't go for Indian brands. Steadtler is also preferred.
I did this work on a a2 size cartridge sheet in few hours. i have used a combination of water colors and color pencils. this is a simple art work and the same technique can be used to create complex piece of art [i will be uploading them soon]!!.....