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To do this, place both ingredients in the top of a melting pot or double broiler.  Beeswax is a great alternative to petroleum jelly if you want an all-natural product. An emollient, or moisturizer, beeswax will seal in the moisture in the lips and protect them from the elements. Beeswax is also good to use in making your own glossy lip balm because it adds stiffness and body to the product so that it can be easily applied, stored, and transported.  You can buy whole chunks of beeswax or, for greater ease, you can also purchase beeswax beads, which eliminate the need to grate the beeswax.  Carrier oils that work well in this recipe are sunflower, castor, or jojoba. Remove from heat once well combined. Whisk or mix thoroughly so that honey doesn't clump together. To make this gloss shinier and more fluid, use 2 teaspoons of wax and 8 teaspoons of carrier oil. Let it sit for 20 minutes before covering or moving.

Summary:
Melt 3 teaspoons of grated beeswax and 5 teaspoons carrier oil over low heat. Stir to combine the wax and oil. Add in 1 teaspoon of honey. Pour the mixture into a clean container. Store at room temperature and use within 6 months of production.