Lots of misleading information here. Size is absolutely irrelevant, as is color. There are 4-5 zoanthid species at least and palythoa have numerous species as well. Aguilla88psi is correct in that those species are protopalythoa. People Eaters are Zoanthid gigantus, which dwarf a lot of palys; Fruit Loops are Zoanthid sociatus; Cinnamon palys are Palythoa grandis; yellow polyps are parazoanthus...
The defining difference is that palythoa incorporate bits of sand and substrate into their stalk and cheonochyme (sp?) and zoanthids don't, which can hinder ID of captive strains because we all know that zoas grow on little plugs, not sand... Beyond that, the size/type of cheonochyme helps in ID. Most of the "palys" I see for sale are actually zoas.