Here's how I've done it (I wrote this up for someone else a while ago and I'm just copying it here):
180 g beeswax (about ¾ cup grated)
60 g cocoa butter (about ¼ cup grated)
250 mL almond oil (a whole small bottle)
20 vitamin E capsules
2 ½ tsp peppermint essential oil
This filled 48 lip balm tubes (4 mL each) and had about ½ pint left over!
1. Grate solids. This recipe used about 1 cup, or 240 grams solids. From what I’ve read, the proportion of wax to butter can change. What matters more is the proportion of solid to liquid (oil). I do have a scale for measuring, and I know most people don’t, but I found it quite helpful.
2. Put solids and almond oil in a double boiler to melt. My friend said not to use olive oil, but I don’t know why. I used the only kind of almond oil they had at the store, which came in a little 250 mL bottle.
3. Add vitamin E. I had originally calculated putting 2½ tsp in, but quickly realized it would take FOREVER to squeeze all that goo out of the little capsules. Since the capsule is just glycerin and gelatin, I hoped it wouldn’t hurt anything to just throw them in. I put in 20 and the outer part melted, so the vitamin E mixed in. I ended up with a glob of glycerin/gelatin on the bottom of the pan that I just scooped out. You need vit E to keep the lip balm from spoiling and it is also good for your skin.
4. Put a little bit of your mixture on a spoon, put it in the freezer until it’s hard, and decide if the consistency is they way you like it. Add more solids (to make it harder) or oil (to make it softer) if you want.
5. When the consistency is right (mine was on the first try—I like it pretty stiff), Add your flavoring, I like minty lip balm, so I used peppermint EO. You can do the freezer thing again to check the flavor.
6. Use an eyedropper to put it in containers. I used cheapo disposable ones, which was a good idea because I don't know how I would have gotten them clean! Actually, I’m not sure how I’m going to get the pan clean either. When I rinsed it with hot water it made a goopy mess and I haven’t finished the dishes yet from dinner, so I haven’t really tied to wash it yet. (ETA: It just took a lot of scrubbing, but wasn't too bad.)
Next time (which will be years from now—I have so much!) I’ll make ¼ as much, unless I’m doing gifts again. I have a plastic pint take-out container half full. When I need to refill my tubes or little pots, I’ll melt that down and use it. I wonder if I should store the excess in the fridge? Probably not a bad idea.
I hear you can add a little bit of color by melting in a little slice of lipstick. Google lip balm tubes and you'll find lots of different ways to package it.
