Cocoa butter, also called theobroma oil, is an edible oil extracted from the cocoa bean. It has a cocoa flavor and aroma, and melts just below the human body temperature. It has become a common ingredient in lotions, lip balms and creams. It has anti-inflammatory and antioxidant properties. Cocoa butter is a fantastic moisturizer, forming a protective layer on the skin to help keep moisture from escaping.