I am a lip balm addict. Have been since I was in high school; I remember the smell of Carmex. God I loved that stuff. Somewhere along the line I got over liking the smell of Carmex and realized that I preferred something with fewer chemicals. I tried everything I could find and they were all too waxy or too oily. So one day I decided to figure it out for myself, and it couldn't be easier.
In addition you need some kind of natural oil. I've tried almond, grapeseed, and jojoba and I have decided I prefer jojoba. I also like to add a little vitamin E oil because it's good for your skin. Tea tree oil is antiseptic, antifungal, and antibacterial. Peppermint essential oil gives the balm a good smell and it is cooling on the lips. Have handy a little jar for mixing, melting and storing. I use a candle warmer to melt the wax. Oh, it's not in the picture, but you should have a toothpick or something to stir with.
Have fun making lip balm! Let me know how it turns out.