I've tried this recipe (ignoring the hysterical anti-chemical rant at the beginning):
http://www.mookychick.co.uk/body/make_y ... urizer.php
When I say I've tried it, you should understand I haven't followed it exactly - I'm not very good at following recipes. For a start, it seemed to have an awful lot of lavender in it, and in any case I couldn't be bothered to wait for two weeks to steep flowers in the oil. Secondly, I didn't have any almond oil, but I did have some hemp oil, which I'd bought for cooking and didn't like very much. It's reckoned to have all-round magical properties, so I decided to use that instead. I had lots of lavender water, following a failed attempt to extract lavender oil, and that smelled pretty strong, so I thought that would probably be enough lavender.
I did follow the instructions for mixing up fairly closely, at least until the end when I thought, "I'm sure I could persuade that mixture to take a bit more water." I couldn't, and ended up with a fair bit of water sitting in puddles in my moisturiser

The consistency was much like body butter, though, and it smelt like... well, like hemp oil. I dug around in the back of the cupboard and found I did have a bottle of lavender oil after all, so I added a bit of that until it smelt nice, and I've been using the result for about six months, so it seems to have a pretty long shelf life, too.
I'm about to try another batch, this time with a little less beeswax, to get a lighter consistency, hopefully. I'm also going to try adding some aloe vera gel, as I've got a tube of that in the cupboard. I still can't be bothered to track down almond oil, but I have got some peanut oil, so we'll see how that goes.