Hot melt 1 part beeswax in a double boiler and add 3 parts turpentine (genuine turpentine, not petroleum spirit based substitutes). Make at least a pint, because otherwise it's easier just to buy it (your beekeeper often sells it).
A softer and easily buffed version that's good for leather. Can leave a residue in the pores of open-grained bone or wood.
5oz beeswax, melted in the double boiler.
Remove from heat and stir in 1 pint of turpentine in a large vessel.
Mix 1 tablespoon of ammonia with 1 pint of water.
Add the ammoniated water to the wax and stir hard.
Pot it while still warm.
Good for polishing wood or bone to a high sheen.
Melt 3 parts beeswax with 1 part carnauba wax.
Remove from heat, stir in 3 parts of turpentine.
Shiny, but hard work.
Mix something like 2-3 parts of beeswax, 1 part of carnuaba and 1 part of candelilla wax in the double boiler.
Remove from heat, stir in turpentine - about three times as much as there is wax.
You should usually melt wax to mix it with a carrier like turpentine, then apply it cold. Hot-applied waxes tend to chill when they hit the cold surface and not penetrate.
Melt wax carefully with a double boiler, because it can catch fire otherwise. Alternatively use a controllable electric hotplate somewhere where you don't mind large hydrocarbon fires (don't use an exxtinguisher, just put the lid on and switch off the heat)
Grating wax on a cheesegrater, or just by shaving with a knife helps it melt more quickly.