Most homes will have coloring pencils or crayons. In my house we also have glitter pens, foam pens and most importantly paints for the kids to select between. Using paints will require a little bit more setup time as you may need to clear an area and lay newspapers down over the table to protect it.
That goes to show that the images on the books should be simple to relate with and identify. In addition, stick to books that have easy coloring pages, which have well-spaced images for sample coloring and ensure you have enough crayon and coloring pencils to for all. You can have two kids on a book each taking a turn to color an image. It is a great way of teaching them the values of sharing.
No matter how old the child is they can still take part. My youngest cant keep the page steady so I stick it down with some sellotape and she can then take part!