Lightly oil a wooden laundry rack or two wood spoons securely taped to your work surface. Cover the floor with newspaper or parchment paper.
In a small saucepan, combine the sugar and the corn syrup. Bring the mixture to a boil, and clip on a candy thermometer. Boil the mixture until it turns a pale amber color; the thermometer should read 265 degrees. Remove from heat, and let cool for 2 minutes. Stir in the beeswax.
Cool the mixture, stirring occasionally, until it reaches 150 degrees. Stand on a step stool so you are about two feet above your work surface. Using a cut whisk or two forks, side by side, wave the sugar back and forth over the drying rack, allowing the strands to fall in long, thin threads. Wrap the strands around the croquembouche as soon as possible.
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