The myth likely originates from the fact that ambergris, a substance produced in the digestive system of sperm whales, was once used in perfumes. Ambergris is a waxy, fragrant substance that can be used to fix scents.
However, ambergris is not used in lipstick, and it's been illegal to harvest and sell it since the 1970s due to whale conservation efforts.
Modern lipsticks are made from a variety of ingredients, including waxes, oils, pigments, and sometimes emollients.