Bucket I read recently that it is not a good idea to use old make-up.
However I have often found ancient stuff and have never had a problem after using it...maybe just lucky! :o)
Ditch it...and anything else past its date. Eye makeup is particularly bad. A friend has just gotten over a very nasty sty on her eyelid due to out-of-date makeup.
Re Pastafreaks comments about eye makeup......I used to work for a company that produced cosmetics and we used to get complaints about eye infections related to using mascara.
When we got samples returned we found that the majority of them were due to women using mascara which had dried up a bit and they were spitting on the the brush to moisten it. Sticking it back in the bottle afterwards led bacteria to develop and infect the contents. Yeuch, but they did it - hope you don't!