Everyone loves when Oprah does her annual "Favorite Things" episode, which is exactly why it has become the talk show queen's most-watched show. The gift-packed hour that airs during the holiday season (with an occasional bonus summer segment) showcases an assortment of things from high-end refrigerators equipped with LCD TVs to expensive beauty products that make great gifts for loved ones -- if you're fortunate enough to have Oprah's paycheck, that is.

The women who just happen to be in the audience for one of these shows are truly the luckiest chicks because the actual reason everyone worships the show is because the big O gives away all of her "favorite things" -- even the big-ticket items. The freak-outs induced by the thousands of dollars worth of super-swag alone make for golden entertainment. The surprise factor (the moment the audience realizes that they are in the coveted seats) causes uproarious reactions of joy -- ones that almost look painful. So what exactly makes the audience go so bananas? The gorgeous beauty products featured, of course, oh, and the notebook computers and crystal watches don't hurt either. But it's the beauty products that get us the most excited, duh.

You most likely haven't been one of the lucky women lavished with Oprah's favorite beauty products, but that doesn't mean you can't enjoy them anyway. We've compiled seven beauty products that have been on Oprah's "Favorite Things" episodes (just in case you missed them) and we took it a step further. We also dug up budget-friendly beauty product swaps for each. So even if you don't have a big beauty budget, you can still experience the unbound joy of fabulous makeup and skincare products.