Melt solids. Melt the oil, butter, and beeswax in a double boiler set over low heat.
Add liquids. Remove from the heat and add the fragrance oil and essential oil, if using. Add the olive oil. Stir well until fully combined.
Cool. Set on the counter to cool at room temperature until solidified, at least 4 hours, or overnight.
Whip. Whip until white fluffy using electric mixer, about ten minutes. If consistency does not change after whipping, place the oils in the fridge for 15 minutes and try again.
Store. Store in clean container at room temperature. May melt if stored above 80 degrees.