In a medium glass bowl, add the coconut oil, shea butter, and beeswax. Place the bowl over a saucepan with some water (making a double boiler) or pop in the microwave. Heat until everything is liquified. Remove from heat.
Allow the liquid to cool for about an hour. Meanwhile, prepare the oatmeal by running it through a coffee grinder or some other device to grind it into a fine powder.
Once the liquid has cooled for about an hour, add in the ground oatmeal (it might bubble a little) and any essential oils. Whisk for 2 to 5 minutes manually or with an electric mixer to make sure everything successfully mixes and that the oatmeal doesn't settle to the bottom.
Pour into an 8-ounce mason jar and allow to cool completely.
To use, scoop some onto your finger and rub gently over affected areas; wash hands afterwards.