File/Folder Tagging

This may be a wierd request, but I was wondering if anyone knew of a utility that could be used to Highlight or Tag files and folders. Basically I and a couple other techs are going through our files stored on our network and thought it would be nice if there was a quick/easy to highlight either by text or folder color so we could visually see what we need to review. Also it would be fantastic if this attribute could flow down for other users to see. That way we could check file dates and such mark them in red or something and then inform our users that anything in red will be deleted within "X" amount of Days. A free or inexpensive utility would be fantastic.