highlighter

[hahy-lahy-ter]
noun
1.
a cosmetic used to emphasize some part of the face, as the eyes or the cheekbones.
2.
a felt-tip pen with a wide nib for highlighting passages of printed material in a soft, transparent color.

Origin:
1965–70; highlight + er1

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Collins
World English Dictionary
highlighter (ˈhaɪˌlaɪtə)
 
n
1.  a cosmetic cream or powder applied to the face to highlight the cheekbones, eyes, etc
2.  a fluorescent felt-tip pen used as a marker to emphasize a section of text without obscuring it

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
Use a red highlighter to mark the three warmest months for both hemispheres.
Use a blue highlighter to mark the three coolest months for both hemispheres.
While the menu is displayed, you may type the first letter of the word and the
  highlighter will position on the first occurrence.
Plowed wetlands should be clearly marked, preferably with a highlighter.
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