I like putting eyeliner in my waterline (the line above your lower eyelashes underneath your eyeball), but it’s hard for eyeliner to stay here unless it is truly waterproof. I have spent a lot of time searching for an inexpensive but effective option, and the best one I’ve found so far is the Sephora Waterproof Eyeliner Pencil.
These eyeliners are only $12, and they last for quite a while. Sephora also sells a huge variety of shades. They truly do last all day but are easy to remove with eye makeup remover. They also stay put and do not migrate underneath my eye. Overall, this is just the perfect retractable pencil eyeliner for underneath the eye. They work okay on the upper lash line as well, but my preference is still liquid for that part of the eye.