Mnemonic devices aid recall. However, little research has explored their use with preschool-aged children. The present studies examined whether a new peg-type mnemonic technique (rainbow mnemonic) could be used to improve memory in preschool children. Item cards, which displayed a picture and its label, were studied alongside colored cards, and this condition was compared to a control condition in which children were left to their own devices to study the item cards. In Experiment 2, the rainbow mnemonic was also compared to a condition in which the children did not have access to the color cues during study or recall. The experiments revealed that the rainbow mnemonic could improve recall for preschool children as compared to control. This study demonstrates the effectiveness of a novel peg-type technique with preschool- aged children.