You can template an animation channel and its corresponding curve if you want to edit a specific channel amid several overlapping animation curves with many keys, and you don’t want to accidentally select any of the other channels.
To template an animation channel and its curve
Templates the selected animation channel in the outliner and its corresponding animation curve in the graph view.
When an animation channel is templated, its keys continue to contribute to its object’s overall animation, but its curve and keys in the graph view are no longer selectable. Also, a small red template icon appears beside the templated channel in the outliner, and the templated channel’s curve appears gray in the graph view.
To untemplate an animation channel and its curve
Untemplates the selected animation channel in the outliner and its corresponding animation curve in the graph view. When an animation channel is untemplated, its curve and keys in the graph view can once again be selected.
To set the color of templated curves in the Graph Editor