Be careful with regular graph paper - knit stitches are rectangular, and depending gauge, rectangular knit stitches will come in various ratios (height of stitch vs. width of stitch). The ratio of regular graph paper is way off when compared to actual stitches.
If you simply chart on graph paper and then knit it, the final result will looked "squished".
You need Knitter's graph paper.
Several sites exist where you can enter the pertinent information for your project and graph paper will be produced, such as this one:
or this one:
I'm not aware of a program which allows you to color in your own knitting chart and print it though, but it probably exists.