What icon do you use to change the icon and color on a Favorite?

The Clock icon typically represents history or recent activity, not an edit function for favorites.

The Pencil icon in ServiceNow UI commonly represents an 'edit' action. Clicking this icon next to a favorite allows users to modify its properties, including the displayed icon and color, for better organization and visual identification.

A Triangle icon usually indicates expansion/collapse or a specific action menu, not direct editing of an item's properties.

A Star icon is generally used to mark an item as a favorite, not to edit the favorite's appearance.