I could use this money system in my classroom to help teach children the value of money. They can earn money by doing what they are supposed to do, and I will have fun things that they can spend their money on if they have enough.
I do Paint Chip Poetry, but I have kids use the names of the colors to integrate into their poems. This looks like fun -- I'll have to try it! Have kids draw them from a hat. They could practice descriptive writing using the color they draw.