I'm on a bit of a Rimmel eyeliner kick at the moment. Their Scandaleyes range is pretty awesome and you should definitely check the Rimmel Scandaleyes Waterproof Kohl Kajals.
I own three colours: Nude, Taupe and Black. There are another four colours in the range and they retail for £3.99.
On various blogs, Nude was compared to the MAC Chromagraphic pencils but I haven't tried them so I don't know. What I do know is that it looks great on lower waterline to look more awake.
Taupe is really subtle and I like using it when wearing Urban Decay Naked basics as it complements the shades.
Black is the latest one I bought, it is ....well, black!
The Rimmel Scandaleyes Waterproof Kohl pencils are very creamy and soft, they do not tug on the lid. Despite how soft these liners are, they do have good lasting power, not waterproof, all day kind of lasting power but a good few hours.
For £3.99 a pop, you could do a lot worse and I do really believe this range of eyeliners are at the top end of what you can find on the high street. Have you tried them? What is your favourite cheap eyeliner?