It's so FUZZY!
As a little kid I had read that it was used as bandages during wars and would often play doctor/medic on the little boy neighbors I played He-man/She-ra with, dressing their wounds with lambs ears (so we stick fought a little hard :/)
I learned recently too that it makes an apple-y fruity flavored tea and along with bandages, can be used like the ultimate biodegradable wash towel (albeit small, but still useable).
More likely this would be a great cotton ball substitute and I wouldn't have to worry about the oddness of a bleached cosmetic product.
Maybe, maybe... though I have always wanted to grow my own cotton for fun...