Coconut oil is a great choice for bath and body products. It's inexpensive and it has some fatty acids we don't find elsewhere. It has a really long shelf life - up to 2 years - thanks to all those saturated fatty acids.
Virgin coconut oil smells absolutely of coconuts and is divine if that's a fragrance you like. Use it where you would use normal coconut oil.
The reason for this post is that I have seen coconut oil used as the primary ingredient in a lotion bar and a whipped butter recently, both of which are really bad ideas. Not only does it have a melting point of 76˚F or 24.4˚C, which means your lotion bar or whipped butter will melt on a warm summer day or a slightly warm day in your car, but it cannot whip up like shea or mango butter might whip because it lacks the proper fatty acids to do that. You can use it in small amounts in a lip balm or a lotion bar, but remember that anything that has a bit of coconut oil - let's say 20% or more - will end up melting in the summer in just about any part of the world.
I'm glad to see this inexpensive oil with a long shelf life becoming more popular, but really consider the conditions the product might be in before using it. It isn't a substitute for butters as it melts quite easily and it isn't a substitute for a lot of oils because it will harden! If you want to use it in a whipped butter, it is nice at 10% with 80% shea, 9% fractionated coconut oil (or other liquid oil of choice), and 1% fragrance.
And consider using it in a hair product or neat. I like to melt the virgin coconut oil lightly in the microwave until it's just liquid, then I dip the ends of my hair into the Pyrex jug and try to get it through the length while keeping it away from my scalp. Coconut oil has many studies showing its efficacy in hair products, and I recommend trying it in your products before you go off and spend a ton of money on something like argan oil! (I have nothing against argan oil, but there are no studies showing that it is more effective than any other oil for our hair, whereas coconut oil has a lot of scientific backing!)
Conditioners: Adding oils - coconut oil
Coconut oil in hair products