Dolce Vita Cream Olive oil is great for both skin and hair. You can find that even in the days of Cleopatra, olive oil was used to soften and beautify the skin. Who knew that such a tasty ingredient could have such an effect on skin care? Extra virgin olive oil promotes radiance to the complexion, improves elasticity to the skin and strengthens brittle nails. Applying it to your hair will aid in improving the shine as well as conditioning it.