Made a double boiler with a pot of water and a pyrex measuring cup. Then added one part beeswax (with some honey still included) and, if memory serves, three parts olive oil. Then added the fluid from some vitamin E tablets for a preservative.
I've saved small tins for a couple years. Cleaned them up and poured in the hot mix.
The chapstick is very smooth. I'll try different types of oil in the future. I also need to buy some tins, as the Altoid tins are now all dispersed to the guinea pig friends who wanted to try the chapstick first. So far no complaints.