colored drawing paper; construction paper
Thick colored paper used for arts and crafts, often in schools. Equivalent to construction paper in English.
The children made animals out of construction paper.
I go to the stationery store to buy colored drawing paper.
画用紙 is general drawing paper, usually white or off-white. 色画用紙 specifically refers to colored versions.
Compound of 色 (iro, 'color') + 画用紙 (gayōshi, 'drawing paper'). The term is straightforward and modern.