DIY Beeswax Balm... 1 1/2 teaspoon beeswax, grated 1 1/2 teaspoon olive oil 1 1/2 teaspoon shea butter 10 drops lavender essential oil Melt beeswax, olive oil, and shea butter together. a minute in the microwave will do the trick. Stir in the lavender and pour the mixture into a heat-resistant container. Do it quickly, though, because it will start to harden right away.