A method for identifying tools using the steps of providing a tool, wherein the tool is chosen from the group including a wrench, a socket, a nut, and a bolt; applying an indicator being a color-coded indicia onto the tool, wherein the indicia is visible to a user, wherein the indicia aids in identifying the tool, wherein the colors are chosen from the group including blue, red, orange, yellow, green, brown, violet and light gray; wherein the indicia is a band, the band being substantially flat, the band being raised an effective distance above the surface of the tool, wherein the band can be felt by a user, wherein the band aids in identifying the tool; and, wherein the band has a single portion, wherein the single portion can be felt by a user to identify English size tools. The method uses a band having two interconnected portions, wherein the two interconnected portions can be felt by a user to aid in identifying metric size tools. Also, the indicator may be a protrusion shaped like a tear-drop, an “X” or “O” shaped indicator, or an o-ring shaped indicator.