Lip balm question

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Has anyone had experience making their own flavor oils for lip balm? Is it even possible? I ask because when I ordered some lip balm pots from here they sent me a free sample of a lip balm made with a flavor oil they're thinking of marketing..it's Starfruit and tastes really yummy! Now I want to make starfruit lip balm for my friends for Christmas, but since the flavor is experimental, I can't buy it online yet. If it was possible to make my own, that'd rock. Could it just be as simple as juicing some starfruits and diluting the juice? Anyone know? Anyone? Bueller? (sorry. :P)