For freeze-dried cranberries, give them a spin in a clean spice grinder (a mortar and pestle or old coffee grinder) before infusing.
In a small saucepan, melt the coconut oil. Add the cranberry and beetroot powders and mix. Let stand for 30–60 minutes, or longer, to infuse the oil.
If using the beeswax, heat the coconut oil again and add the beeswax, allowing it to melt completely.
Let cool until still fairly warm, but not too hot. Strain the warm oil through several layers of cheesecloth placed over a fine mesh sieve. Press gently on the solids to extract as much of the oil as possible.
Stir in the shea butter (it should melt easily if the oil is warm enough), and let cool.
As the mixture cools, it may start to separate a little bit. Stir to keep the color particles suspended in the coconut oil.
When it's solidified, gently beat with a spoon until light and creamy.
Transfer to a small jar with a tight-fitting lid. If placed somewhere cool, it will keep for several months.