Homemade Lip Balm

This morning, my daughter and I have been experimenting with making homemade lip balm. She had to come up with a chemistry-based project for an upcoming science fair, so she decided to study emulsifiers and how they stabilize liquids. Since I have some experience with whipping up my own concoctions, I was enlisted to oversee the project. 
My girl has a major lip balm addiction, and since we’re both sensitive to almost everything, we spend a lot of time (and money) trying to find products with no scent, colour, or flavour; sadly, there’s not a lot out there. So, if this science project can teach her (us) something, and fill a need, it’ll be win/win all around.
Our first attempt was a total blobby flop (we think the aloe had its own stabilizers in it that kept it from blending into the other liquids), but this version is a combination of shea butter, cocoa butter, and beeswax. Despite the lack of essential oils, it smells wonderful and feels fantastic! The best part? We made two pots and two tubes for less than what one tube usually costs us in the store. We’ve got a few more recipes to try, but this one will be hard to beat.
Now, excuse me while I go find someone to try it out on.
Edited May 27, 2012: For those who have asked, here’s the recipe for the version we liked the most:
Cocoa/Shea Butter Lip Balm 
1.5 oz. shea butter
1.0 oz. beeswax
1.5 oz. cocoa butter
Melt solids together in a double boiler. Remove from heat and add:
4-6 drops of peppermint (for flavoured balm) or safflower oil (for plain)
Stir well, and pour into containers. Let cool.
We made half a batch and got what you see in the photo. This version is quite solid, which we like because it stays on well even while swimming or bathing, but feel free to play with adding more oil if you like a softer balm.

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