In a heat-resistant bowl, combine the beeswax, candelilla wax, shea butter, jojoba oil and castor oil.
Place the bowl in a small saucepan that's been filled with 1-2 inches of water (essentially creating a double boiler). Heat on the stove over low heat until the oils have melted. Stir to combine.
Once the oils have melted, add the vitamin E oil and iron oxide. Continue adding iron oxide in a variety of different hues until you reach the ideal shade.
This next step can get pretty messy to make sure to lay several paper towels over your work area and keep a roll of clean paper towels nearby. Using a needleless syringe, carefully transfer the mixture into the pencil molds or casings (make sure to put the end cap on the pencil before filling!) Then stand the pencils in a cup or jar and let them dry overnight.
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Notes
Keep your lip liner and lipstick with you for touch-ups throughout the day, especially after eating or drinking.