Generate Bounding Box, In Game

I’m trying to make it so when I pick up an object in game, it has a red bounding box indicating it’s selected when grabbing and dragging it, but all I have atm, is making it draw a bounding box in the editor only. How could I go about making this affect the object in-game aswell?

Sorry, this message box seems to have screwed up my code format, hope you can understand what I’m doing with it

var _bIsSelected = true;
 
function OnDrawGizmos()
{
  if (_bIsSelected)
      OnDrawGizmosSelected();
  //if(Input.GetMouseButton(1))
  //{
  //_bIsSelected = true;
  //}
  //else
  //{
  //_bIsSelected = false;
  //}
}

function OnDrawGizmosSelected()
{
    Gizmos.color = Color.red;
    Gizmos.DrawSphere(transform.position, 0.1);  //center sphere
    if (transform.renderer != null)
        Gizmos.DrawWireCube(transform.position, transform.renderer.bounds.size);
}

http://unity3d.com/support/documentation/ScriptReference/Object.Instantiate.html

that should help