This lil tutorial contains information on what to get, where to get it, and how to put it on.   This was first written for Burning Man, but applies to any ole tranny-intensive situation.

What to Get 
There are certain drag basics that everyone should have in their makeup kit.  Do you need all this junk?  No, you can get away with base and an eyebrow pencil. But NAMBLA the Clown and Ms. Candy Cane are huge believers that more is more.  Otherwise why would they be drag queens?

• Spirit gum. All purpose makeup glue. NAMBLA swears by this stuff, using it to glue down his eyebrows and attach jewels to his face.
• Eyebrow wax. Unless you have perfect eyebrows that go with the look you're doing or you're one of those freaks who shaves them, you're going to want to temporarily erase those fuzzy caterpillars above your eyes. Eyebrow wax smoothes them down and hides them. Sometimes it's known as eyebrow wax, or at Krylon can also be known as "Special plastic."
• Base. This is your face's undercoat. Base goes down second. Always put on sunscreen first, before you put on your makeup. Some makeup provides protection, but probably not the crap you're going to be buying at Walgreens.
• Translucent powder and the like. Powder sets your base. Typically base is oil-based so it smoothes on evenly and requires something to set it so it doesn't wipe off. 
• Lip Stuff. Lipstick is a must, as is lip liner, but you don't have to use traditional lipstick or liner, you just have to plan for it. Reshaping your mouth can be very pretty or disturbing, depending on execution. The secret to perfect glitter lips isn't glitter lipstick, which always sucks.  Put on you lipstick first then touch ultra-fine glitter to it.  Coats much more intensely.
• Mascara. Some people use it. Some people don't. If you're wearing fake eyelashes you might still want some to darken you eyelashes which may be coated with translucent powder after your first sloppy attempt at drag.
• Eyeliner. For out of the box perfect lines there's nothing like liquid eyeliner, and it comes in cool colors. Other makeup can perform the same task, but not as easily.
• Color powders & pots. You don't have to buy blush to use as blush. You can use any eye shadow or lipstick, so long as it's a color or texture you like. There are zillions of eye shadows, blushes, and theatrical makeups you can use to add color.
• Fake eyelashes. ALWAYS good, one should never feel fully dressed without these buggers. They really finish a look, but are hard to apply. Tips on how to put them on are listed below.
• Glitter and jewels. Why just apply makeup when you can glue stuff to your face as well. Rhinestones, sequins, macaroni, Scrabble tiles. Why limit yourself?
• Special effects makeup. Fake blood. Tooth black, white, red, and nicotine yellow. Fresh scab. These are NAMBLA the Clown's signature additions. Not for everyone, but fun to use for that look that gets the looks.
• Tools. Again, you don't need all these tools, but you will need some. 

• Sealed makeup box or bag. Makeup always explodes at some point in your career unless you're a totally anal freak. The other kind of freak who irons their socks and folds their underwear and remembers peoples birthdays and doesn't like chocolate. No, makeup always explodes. Lids to loose powder jiggle open.  Fake blood lids twist open. It happens. Trust me. Get a bag or box that seals tight.
• Powder puff and brushes help you put on and remove excess loose powder after you finish your base. 
• Paint brushes are needed to apply dry and liquid colors.
• Makeup Pencils are great for sharp lines, but require an accompanying sharpener. (Note that pencils are really hard to sharpen in 110°F deserts because they soften and don't keep a point.  Store them in your ice cooler in a Ziploc bag if you're going to Burning Man.)
• Sponges for applying makeup are optional. NAMBLA uses his fingers. Others prefer sponges.
• Decent mirror. Don't think your pal's gonna let you muscle in on their mirror. Always have your own. 
• Makeup removal stuff. On the road Baby Wipes, cold cream and paper towels are your best friends. You don't need water if you have these supplies. But make sure you get non-scented Baby Wipes otherwise you'll end up smelling like your grandmother before the incontinence set in.
• Baby oil.  Removes spirit gum; don't buy "spirit gum remover".  It's a rip off and is just repackaged baby oil.  If you glued down your eyebrows and forget baby oil you're screwed.  But it is a good look on it's own: morning-after drag remnants.

If you don't have a lot of time and are in San Francisco you can get everything you can possibly think of at California Theatrical Supply, 132 9th Street tween Mission and Howard. Call them for their hours at (415) 863-9236. They are not open weekends, so you'll have to plan ahead. NAMBLA the Clown adores this place.

For goodies like rhinestones, jewels and silly drag accessories three places make life easy. 

• Cliff's Hardware on Castro at 18th is ridiculous. Fake eyelashes, jewels, you name it for mainstream drag they're a great supplier, though their makeup may be a bit more expensive than California Theatrical.
• General Bead. The help at General Bead is really snotty. Go ahead and tell them NAMBLA said that, and that they need an attitude adjustment 'cause they just work in a craft shop. Having said that, they have wicked cool beads and jewels perfect for gluing madness in quantities undreamable.
• Costumes on Haight, 735 Haight St, (415) 621-1356. This place is packed full of crap you don't need, yet want. Makeup here is a bit overprices, but it's a good one-stop shop for both makeup and costumes. They have really good silly stuff.

How to Put It On

Preventing splatter.  Wear clothing that buttons or zips up the front rather than the costume you plan to wear.  One always spills makeup down their front when using the quantities necessary for that over the top look you're going for.  If you do have to wear your costume, may one suggest a bib or apron frontside to stop the dribbling?  Tissue paper or newspaper shoved into your collar may look stupid, but hey, if it makes your final look that much better, so what.  

Getting rid of your eyebrows.  Glue down your eyebrows with spirit gum first.  Let the stuff dry a bit then use your paintbrush to squish them down more, so that they're as smooth to your face as possible.  NAMBLA has huge furry caterpillars above his eyes and really struggles to hide them.  After the glue has dried apply the eyebrow wax til it's smooth.  Use as little eyebrow wax as possible, as it can crack and peel if you use too much.

Base.  Apply as thinly as possible yet still getting an even smooth coating.  Use either sponges or fingers to apply.  Cream base applies very evenly.  Choose a light-to-medium colored base, rather than a darker colored base.  Unless you're doing blackface, of course.  Light colors allow you to use dark colors as accents and even lighter colors as highlights.  Dark colors on light read better from a distance, and you want people to fear and disdain you from at least a block away, as well as in low lighting.  Remember when putting base on your neck that it will get on the neck of your garment guaranteed.  When put on other parts of your body, such as arms and legs remember that makeup wipes off.  NAMBLA once loaned his bicycle to a naked guy whose ass was painted red.  You can imagine the bike seat when he got it back.  Eeeeww!  But sniffable.

Powder your base liberally. Put on lots of powder and brush away with a powder brush or the like.  Powder sets your base so it won't smear.  Leave a little extra powder not wiped off just below your eyes on your cheek bones as well as on your nose while paint on your eyes and eyebrows.  Whenever you do your eyes with eye shadow, invariably powders fall onto your nose and cheekbones, which can be a pain.  If you leave that extra powder on you can brush away the excess at the end without ruining your base.

Now start slapping it on.  Start with the broad outlines you want to achieve.  Don't try to get things even.  If you're a beginner it's often easier to intentionally make your face asymmetrical.  Otherwise you can tweak on getting your eyebrows even forever.  This is a matter of style, but often it's easiest to start with the eyes, shape the lips and let everything fall in place afterward.  If you draw your eyebrows on higher than your natural ones you have much more space to exaggerate your eyes.  Lips don't have to be lip shaped.  And for that matter, who needs eyebrows in the first place?  It's shocking that this is being stated, but put on less makeup than you think.  Or at least put it on as thin as possible.  Makeup cracks.  The thicker it is the more it cracks.  Again this can be a good look if it's what you're trying for, otherwise you'll just end up looking like one more woe begotten Frankentranny.

Fake eyelashes are a nightmare for beginners.  They are, experts think, required for a complete look.  However they're a pain to put on.  Erica uses eyelash glue for hers.  NAMBLA uses something called "Medical Adhesive" for his. To use eyelash glue put on a thin amount to the lash and let it sit there til it gets tacky.  Well, tackier.... Then put them on slowly.  Good thing is eyelash glue peels off easily when it's dry.  If you screw up give it a minute to dry then peel it off and try again.  Medical adhesive dries pretty instantly, and since NAMBLA has absolutely no patience this is perfect for him.  It is, however, unforgiving, and does not come off easily, often leaving little globules the next morning, which is stunning for tooling down to Center Camp Café, but may not be the look you're trying for going to the office in the morning.  Just a thought.  Also if you're opting for those massive eyelashes there is a trick to putting them on.  Curve the outer corners (the end of the lash toward your ear) up a little bit away from the eye, rather than along the eyelash line itself.  This curve makes the eyelashes turn up and outward, otherwise they kinda fall into your eyes and look like eye claws.  Not that that's a bad look either.  DO NOT USE SPIRIT GUM with fake eyelashes. That shit burns your eyes like a mofo.  Not a good idea.

Jewels, fake blood and the like are the finishing touches.  If you use glitter remember to not let it hit the ground.  Again, use less than the payload of a thermonuclear glitter bomb.  Apply it above something.  Glitter doesn't biodegrade, much like Cher, so if it hits the ground it's staying there unless you clean it up.  Also glue your jewels on carefully.  When gluing them on the trick is to apply the glue to yourself, not the jewel.  It's much easier that way.  Bring your glue with you as well.  Never know when you're gonna need a touch up.  Fake blood, bruise kits and fake scabs rock.  In this case too much is just fine.  Some fake blood and fresh scab never dries, though.  So ask your retailer if it dries or not and make your decisions about which to buy and where to apply it based on this.  NAMBLA the Clown applies jewels to direct the spectator's eye away from his sloppily slapped on face's imperfections.  Seems to work.

Take It Off... Take it All Off!
When it comes to removing this gunk, life is easy if you planned well.  Apply cold cream in a thin layer and rub like soap.  Wipe away with paper towels.  Once you've gotten most of it off you can use Baby Wipes and paper towels with dabs of cold creme to get the rest.  Most theatrical and drug store cosmetics come off relatively easily. Use baby oil on a rag to remove spirit gum.  That requires some scrubbing, but isn't so bad.  You don't have to use cold cream, but it makes life easier.  Almost all makeup comes off with soap and water (except spirit gum and medical adhesive).