Lipstick is a cosmetic product containing pigments, oils, waxes, and emollients that apply color, texture, and protection to the lips.Many colors and types of lipstick exist. As with most other types of makeup, lipstick is typically, but not exclusively, worn by women.uring the time of Queen Elizabeth I bright red lips and a stark white face became fashionable. At that time, lipstick was made from a blend of beeswax and red stains from plants. Only upper class women and male actors wore makeup.