Working with colored pencil is a great way to learn color before moving to more expensive oils.
Color pencil is an excellent media for parents of young children. The dangerous pigment are bound up in a wax matrix and many times less dangerous than oil or even acrylic paints.
To get better results AND save trees, when working with color pencils, use a 2 ply vellum surface acid free bristol board. It holds more layers of pigments and is generally made of cotton.
Working in Oils? If your studio isn't well ventilated, you're seriously risking your health.