To make lipstick from scratch, you will need to order a base. These bases come in the form of a yellowish paste and can also be used for lip glosses and medicinal lip balms. Beeswax and canuba wax can be combined to create a base, if you prefer. Canuba is a natural thickener. You will also need Vitamin E Acetate which is an anti-oxidant and protects lips against UV rays and has anti-aging properties. Castor oil is available in drug and health food stores and acts as an emollient. Mica pigments and frosts can be ordered along with the base and waxes and are available in every conceivable shade to create a matte finish or a frosty effect. Grapefruit seed oil is a natural preservative which improves the shelf-life of your lipstick. You will also need an appliance for melting the base, plastic lipstick molds with an open top for easy pouring and which also open at the sides for removing the finished lipstick. Combine 1 tablespoon of Castor oil with ½ a teaspoon of P&C pigments and ½ a teaspoon of mica pigments. Place the ingredients in a heat resistant glass. Stir the mixture thoroughly and put it aside. Combine 1/2 teaspoon of white beeswax, ½ teaspoon of canuba wax, ¼ teaspoon of Vitamin E Acetate, and 1/8 teaspoon of Lecithin or Vaseline. Add these ingredients to the Pigment and Castor oil mixture and heat to no higher than 170 degrees (use a thermometer to make sure that you don’t exceed the heat limit) by placing the mixture in hot water or using a microwave (don’t heat on the stove—overheating kills the active ingredients). Add one drop of grapefruit seed extract to the mixture. Pour the mixture into lipstick molds pre-moistened with plant oil. If the mixture becomes sticky, melt it again. Let the mixture harden in the molds for a minute and put the molds into the refrigerator for 2 hours. If you are not happy with the result, you can always melt the lipstick and try again, but for best results, test the pigment combinations on a palette before using them to make your lipstick. For that professional flame-like pointed tip, take a cigarette lighter and burn the top of the lipstick, melting it to the desired shape (but not too much, or you’ll lose some lipstick!). Put your lipstick in the holder and color yourself beautiful.
source: http://www.essortment.com/lifestyle/makelipstick_smxg.htm