It's Fun to Know: Frankincense and Myrrh

The Bible tells us that the Three Wise Men gave the Christ child gifts of gold, frankincense, and myrrh. Just as it is these days, gold was a valuable commodity 2,000 years ago. But what about the frankincense and myrrh? Well, at the time, they were among the most costly products in the world.

Both are types of incense, essentially the dried aromatic sap of shrubs that grow in parts of the Arabian Peninsula and the Horn of Africa. In biblical times, they were used (1) medicinally, (2) in perfume and makeup, and (3) in religious ceremonies (burned or made into oils). And they're still used today in herbal remedies and cosmetics.

(Source: The Straight Dope and How Stuff Works)