How do I make a Script that when a player touches another player they are it?

I would like an explanation on the options that i could have.

You could essentially have a Boolean value inside of each of the characters in the game called IT. Then what you could do is have a separate script that runs when a character touches another character, that checks if the toucher is IT and if they are makes the touchie's IT value true while changing the toucher's to false.

Erm, I don't think that would work. It would be more efficient to just go with a Workspace text value that contains the name of the person who is it.