I'm not a big fan of it now, but when I was a teenager I loved when girls wore lip balm. Especially if it was a girl I was going to kiss and the flavor of the lip balm tasted good... As for cute... well, I would associate the good taste with the lip balm, so that actually did attract me. SO I guess you can say that it's kind of cute. not in the usual way, though.
I like that, "guys find that cute". Well, I can tell you, this guy finds even a 30-something yr old applying it a bit more than cute. Had dinner with a close friend the other night who applied it afterward, and I thought it was sexy.