Hi Curtis,
The
Color Parrot, or a White Balance Diffuser will work well. For the most accurate reading in the studio you would want to point your diffuser device at the strobes themselves (umbrealla or softbox).
Basically, you would just hold the diffuser device in front of the camera lens, stand where the subject would stand, point the lens at your main strobe (key light) and take a photo. You would then simply go into your 5D Custom WB menu and choose the last photo for your reference image. This assumes that all of your strobes have the same temperature. They should, if you buy them at the same time new in a set.
Full instructions for the 5D are located
here. This way does not require any additional post production work for white balance. The white balance is set in "real-time" as you shoot. If you're going to go jpeg, doing it real time, is really the only way to go.
You can also use a standard gray card/ equivalent such as a WhiBal or BabelColor target to do it the traditional way. Raw is the only recommended approach for this method. Have the model hold the card, take one shot with the card before the shoot. In post production, find this image and use the white balance "clicker" to set the white balance for your image. Then apply this correction across all of the images from the shoot using the copy-paste procedure of your raw workflow product. Some of these gray card products may also be used for "real-time" correction, as well.
Hope that helps.