It’s a mix of cetyl and stearyl alcohol, two emollient fatty alcohols. Thought it’s an alcohol, it’s properties are different from the alcohols we usually know. This fatty alcohol (it has a long oil-soluble tail) gives the skin a very soft and moisturized feeling (emollient). It’s a very commonly used ingredient in cosmetic formulas in low percentages due to its stabilising properties and emollient properties.