You can do a lip balm recipe and add sugar for tubes. How much sugar is up to you. I would not use food coloring in them... might stain your lips/face?
Or you can just do a plain liquid oil + sugar if you are keeping it in pots.
Be careful not to get this wet, aka put your wet fingers into it while in the shower.
I would also be really careful with which eo's you choose to use and the amount. Keep it very low. You can use flavor oils too.
ETA: If you are looking to make one like Lush's, all they use is sugar, jojoba oil and flavor (and in the bubble gum, I think a D&C colorant?)