A depth stop for use with a drill bit comprises a tubular body having an opening therethrough. Used with a drill bit whose bit portion includes a cutting end, and a shank portion, the depth stop is frictionally positionable on the bit portion at a specified point from the cutting end, thereby indicating a specified depth. Depth stops are manufactured in different colors, each color corresponding to a specified range of drill bits that the depth stops will fit. The depth stops, manufactured from a sterilizable material, are intended for single use. The depth stop can be used with a drill bit and drill extender, where one or more depth stops provide multiple visual points of reference for the operator. The depth stops can be quickly mounted onto most any manufacturer's drill bits.