Flavoring oils are fragrance oils made specifically to be safe in lip balms and lip sticks. You are welcome to list them either as fragrance or flavor on your product label. You can use them in soaps, lotions and other cosmetic products though since they are not as strong as regular fragrance oils, you may need to increase the usage rate to the highest amount in the fragrance calculator. It does not work the other way around -- fragrance oils are not lip safe unless they specifically say so.
Flavor oils are generally unsweetened, but there are several options to give them flavor as well as scent.
Lip Smacking Sweet Flavoring Oil, which can be used at a 1-3% usage rate in your recipe:
Here is a link to all of our awesome flavoring oils: