The Icy Balm comes in a squeeze tube (like Juicy Tubes/Mulberry Tint Balm) that contains 0.5 oz. of product. It retails for $16.50. In the tube it looks like a scary frosty white. On the lips it's basically clear with a very small (i.e. barely noticeable) amount of microglitter and opalescence. It has a nice subtle minty scent and makes your lips pleasantly tingly. The gloss itself is nice and thick.
My take - this is basically a Bonne Bell EnticeMint gloss (the only real difference is that the BB glosses are thinner and runnier and don't have SPF) at 4x the price. I don't regret buying this (particularly given my new obsession with Px tube glosses) and will use it quite a lot, but I probably wouldn't repurchase if I used it up.
If you don't REALLY love the Px formulation and you want a clear gloss with noticeable sparkles and depth, buy Lancome Miracle Juicy Tube. If you want tingly glossy lips, buy a Bonne Bell EnticeMint gloss. Either way you save money.