OnMouseExit is called when the mouse is not any longer over the GUIElement or Collider.

OnMouseExit balances out OnMouseEnter.

	// Assigns a white color to the material 
	// attached to this mesh.
	function OnMouseExit () {
		renderer.material.color = Color.white;
	}

using UnityEngine;
using System.Collections;

public class Example : MonoBehaviour {
    void OnMouseExit() {
        renderer.material.color = Color.white;
    }
}

import UnityEngine
import System.Collections

public class Example(MonoBehaviour):

	def OnMouseExit() as void:
		renderer.material.color = Color.white

This function is not called on objects that belong to Ignore Raycast layer.

OnMouseExit can be a co-routine, simply use the yield statement in the function. This event is sent to all scripts attached to the Collider or GUIElement.