Tried "googleing it up" (as my Dad says)... found several videos and instructionals.
Looks like most folks cut the bees wax with something that makes it stay soft (lanolin, pine rosin, etc.). I thought it was cool that some were melting it and pouring into empty chapstick tubes. Looks like Traditional Bowhunter Magazine had an article on making bow string wax. That might be the best place to start if you can find the article.
OkKeith