To make lip balm, microwave 2 tablespoons of petroleum jelly and 1 tablespoon of beeswax for five minutes, or until they form a clear liquid. Mix in 1 teaspoon of honey and 1 teaspoon of vanilla extract, and pour the mixture into a jar before it sets completely.
Alternatively, melt 3 teaspoons of grated beeswax into 5 teaspoons of sunflower or jojoba oil using a double boiler. Remove from the heat and mix in 1 teaspoon of honey and 6 to 7 drops of essential oil, for fragrance. To color the balm, stir in a dab of lipstick. For a glossier finish, use 2 teaspoons of beeswax and 8 teaspoons of oil.