I absolutely love M.A.C. Lip Pencils ($13)! They glide on smoothly, wear for a long time and have great coverage. I like wearing these more than lipstick because you get more precise results. I like to wear 2 lip pencils; one for the liner and one as the lipstick, then top it with a Lip Glass ($14.50) or Tinted Lip Conditioner ($14.50) Some of my favorite combinations are:

Bright Hot Pink–
Line: Cherry
Lip: Magenta
Gloss: Viva Glam Gaga lip Glass

Neutral Brown–
Line: Cork
Lip: Subculture
Gloss: Soothing Beige Tinted Lip Conditioner

Red–
Line: Brick
Lip: Cherry
Gloss: Viva Glam Cyndi Lip Glass

Nude–
Line: Stripdown
Lip: Oak
Gloss: C-Thru Lip Glass