Would this be affective on paper?

No, the resist is very liquid and will soak into the paper. You could try using a colorless wax crayon or plain candle wax. This coats the surface of the paper and allows for resisting of dye to some degree. Then the wax can be ironed off with a paper towel soaking up the melted wax. The problem with using a resist on paper is there is a chance the dye, paint or whatever you are using can seep through the paper if the paper is not heavy like a 140# or 300# watercolor paper. This could allow the dye to migrate into the wax resisted area from the back if the paper is not heavy enough to block such action. You can try regular masking fluid made for watercolors on paper. Apply this, allow it to dry and then apply your dye or paint. Then the masking fluid rubs off with your fingers, much like rubber cement. Masking fluid will dry and clog up anything you use to apply it with (such as a brush or dipping pen), so watching a YouTube on how to apply masking fluid would be helpful before you try and use it. The advantage to using masking fluid is it creates a solid resist barrier, paint or dye cannot leak through it, and the masking fluid dries on the surface of the paper so it will peel off when you're done. In other words the masking fluid does not soak down into the paper fibers. But this is only going to work on an art worthy paper, not copy paper and probably not construction paper. The paper has to have some body to it in order for the masking fluid to work properly.