The Crayola Crayon Color Wheel Drawing Game was copyrighted in 1974. The suggested age range is 6–10 years, but it is fun for adults who like to draw and color as well. The game suggests 2–4 players, but there really is no limit on the number of people who can play. There are 32 crayons in the game and 8 different stencils.
I don’t see any problem in having more than 8 players, except for the rule about time. In the instructions, players are supposed to wait for each person to finish coloring before they take their next crayon. This could take forever if there were more than 2–4 players. Simply eliminating that rule would shorten the game significantly. When we play, we do not wait for one to finish coloring before the next person can take their crayon. But we do make sure that we take turns and do not get ahead.