Did you know Marshmallow Peeps makes a lip balm? It's true: there are several flavors, including Strawberry Marshmallow Cream, Vanilla Marshmallow Cream, Cotton Candy Marshmallow Cream and Grape Mashmallow Cream. You can see one of them here on Amazon.com where it sells for $3.99.
Serious Eats reviewed the lip balm. They say it does moisturize and the manufacturers "did not just shove a Peep into a lip balm." Serious Eats also says the Peeps lip balm can also be found in Target's $1 bins.