I am looking for the best method to visually show two objects intersecting. Object 1 would be a static semi -transparent object and Object 2 would be a moving projectile that would go through Object 1 s they intersect.I would like to change the material to show where the intersection takes place. Think Boolean in a 3D application but we would have multiple objects hitting the target and represented by a color.

I am also considering creating an outline where the two initially intersect similar to a toon outline in Maya.

Any advice would be appreciated.