When deciding on a color palette for your wave drawing, try to draw inspiration from the natural world, such as the colors of the ocean, the sky, and the surrounding landscape. Take into account the mood or feeling that you want to convey in the drawing, as different colors can evoke different emotions. For example, you might choose cool blues and greens to create a sense of calm and tranquility, or warm oranges and yellows to convey energy and excitement. Finally, experiment with different color combinations until you find a palette that feels harmonious and balanced, and that complements the other elements of the drawing.