Check out TSA's web site for very detailed information about what is and what isn't considered "wet" enough to merit inclusion in your 1 qt ziploc bag (click on the "learn more.." link on the left-hand side of the page). You only get one, but it's quite sufficient---if you're used to travelling with only a carry-on then you're already probably packing pretty small quantities of toiletries.

Lipstick that's solid can stay in your purse. Any other sort of lip color that's liquid should go in the bag (so, a gel that you squeeze from an applicator tube or a liquid that you apply with a sponge wand would go in the ziploc).

There's lot of anecdotal experience out there about people getting through with more (or less, if you run into screener that's insane or angry) than TSA's web site describes, but following the guidelines is easy.

There's a fairly recent thread here on the Women Travelers forum about liquids (entitled something like "the liquids game) that discusses specifics and gives some good tips, so you might want to check that out as well.