100% Pure Refined Beeswax Beads. Cosmetic wax. Honey Lip Balm Recipe: Place 2tsp Olive Oil, half teaspoon beeswax, half teaspoon cocoa butter in a pan over very low heat. Stir constantly until wax is melted. Squeeze in one Vitamin E Capsule. Remove from heat. Stir in half teaspoon honey and 3 drops of essential oil of choice. Store in glass jar. Stir until solid.