When you draw a picture you create the picture on paper, on a computer or on something else. If you color something you add color to a picture you have drawn or a picture that someone else has drawn using felt tip pens, coloring-in pencils or crayons.
What is a caricature?
A caricature is a type of picture that is drawn of a person that is exagegerated and possibly also funny. If someone drew a caricature of you, your head would be very big. If you had a pointy nose, it would be even pointier!