Rise of Rashalan was recently run 1 day Larp in Zagreb. The game was combat and undead centric. Notably a professional makeup artist was available to make things look good. This turned out to be highly effective.
You can can see the good makeup to good effect in this web album.
From a personal perspective I’ll have to say that having some one who knows what they doing apply your makeup makes all the difference. Good makeup helps with immersion and can greatly aid playing a character,