To achieve a more rectangular shape, script to the right of the graphic? I like it but have to explain my interpretation to others. I see it as a play on squashed bee and wax drop on hair.
Of course it is a wax on hairy skin, and it recalls a bee. It's obvious. But what about this bee? Someone may find squashed bee too quirky (poor bee didn't make it). IMHO It can be interpreted literally as well ;) The bee was just WAXED and these are its hairs left on the wax drop (we don't need the whole strip to wax a bee, do we?)
Excuse me for my great mood, but I really enjoyed this one.