Be prepared to bid adieu to a bright piece of your childhood this week.

Crayola announced last week that it'll be retiring one of its beloved colors this Friday, March 31st, which is also National Crayon Day. How ironic!

The crayon company isn't revealing which iconic color it'll be eliminating from their portfolio so you'll have to keep guessing until the scheduled Facebook live-stream event.

Everything about this seems to be happening too quickly and fans have taken to social media to express their feelings following the announcement.

There were many who couldn't wrap their heads around the impending change.

This user thinks the company may be setting us up for an April Fools joke.

Some Facebook users think this whole situation is ridiculous and reflects a deeper problem with the world.

On the other hand, some people simply want to make sure their favourite colors will be spared.

The good news is that the 24 and 64 count boxes "will always have that number of crayons" according to Joshua Kroo, Director of Marketing Communications & Virtual Creativity Platform. He told Mashable that "Crayola is all about innovating with color so consumers can expect that there will be a new, exciting color coming soon!"

You can RSVP to the live-stream event here and be one of the first to find out which crayon color gets the boot and what the "exciting" new color will be.

What's your favorite Crayola shade?