Crayola’s founders from left: Edwin Binney and C. Harold Smith.

Edwin Binney, working with his wife, Alice Stead Binney, developed his
own famous product line of wax crayons which it sold under the brand
name "Crayola." The Crayola name was coined by Alice Binney, wife
of company founder Edwin and a former schoolteacher. It comes from
"craie", French for "chalk," and "ola" for "oleaginous", or "oily.

The Rubens Crayola No. 500 crayon box