NARS Wild Phox is a moderately cool-toned, very light lavender with a pearl finish. It is a limited edition highlighter that retails for $29.00.
NARS Wild Phox Multi-Use Highlighting Pencil ($29.00 for 0.04 oz.) is a pale lavender with cooler undertones and a pearly sheen. It's supposed to be a highlighter that works for "eyes, cheeks and face" for "fresh-faced radiance." It sounded like it was designed to have sheerer coverage based on "how to use" information provided by the brand.
It had medium coverage that was buildable to full coverage with a second layer. The consistency was creamy with moderate slip and a touch of tackiness, but it seemed to dry down within 15 to 25 seconds. I used it to highlight the inner tearducts of my eyes as well as on my cheeks, and it was easy to work with in both places. It wore well for eight hours on eyes and cheeks for me. I'd say the biggest "con" of the product was actually how little the pencil contained--0.04 oz.--which is more like a typical pencil eyeliner than a jumbo-sized pencil like this.