Shea butter would definitely be high on my list of main ingredients...as are cocoa butter, tea tree oil, lavender oil, and maybe aloe. I also use a silicone-based lube for running (Sport Shield). I see silicone/dimethicone in a lot of commercial butt butters and think I'd try that, too. A little goes a long way and I've never found anything water-based that has the lasting power of that stuff.

I'm thinking that even with small quantities of each ingredient that I could make a ton of butter and tweak things with each small batch. Since both DH and I ride we could spend a small fortune on the commercial stuff. He just tried DZ Nuts and loves it, but that price tag... *swoon*