Hi everyone! here is my tutorial on how to colorize and apply makeup on black and white images. I hope it can be of help!
Here are the steps:
1. Duplicate the picture.
2. Go to Layers/New Adjustment Layer/Color Balance and in midtones put these settings: 70,12-38.



3. New Layer and flood fill with color #9c603f change blend mode to overlay, opacity 40.


4. Hide your first layer (the one with the picture in B&W (you hide the layer by putting and x like I show on this screen capture).


5. Then go to Layers/Merge Visible
6. Now that the skin color is ready go ahead and make the layer that says merged active and start erasing all the color that covers the entire eye.


7. With the selection tool and with these settings: Circle, AddShift, Feather: 2 select the eyes iris and flood fill it and change blend mode to soft light.


8. MAKE-UP:
Eyeshadows: pick a color and paint the eyelid and change the blend mode to soft light or overlay.
These are the settings that I use for the brush!


Lips: Select with freehand selection, settings: Point to Point, AddShift, Feather: 2 and flood fill and change blend mode to soft light.
The result!

PD: Sorry for my bad translation! :-)