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);
 }